Canada's largest surcharge-free ATM network is EMV capable

Canada's largest surcharge-free ATM network is EMV capable
Tags: Bank / Credit Union, Debit / Credit, Deposits / Check 21, Distributors / ISO / IAD, EMV, Software, Transaction Processing
September 14, 2010

The Exchange network, Canada’s largest surcharge-free ATM network, is now capable of processing chip-enabled debit cards, its operator FICANEX Services Limited Partnership announced yesterday.

The Exchange ATM network, which is based in Langley, British Columbia, operates 2,400 full-function ATMs for more than 225 financial institutions across Canada, said Tracy Boyd, vice president of marketing for Threshold Financial Technologies Inc., The Exchange ATM network’s central switch since 2009. Threshold is based in Mississauga, Ontario.

“We are delighted to have reached this milestone,” said Linda Matheson, general manger of FICANEX. “We are committed to providing our members with value-based, feature-rich services, and supporting EMV is a key part of the strategy.”

Although The Exchange network is capable of processing EMV transactions, an undisclosed number of ATMs still cannot accept chip and PIN cards, Boyd said.

“You have to turn on the network first and then the ATMs,” she said. Canada has set deadlines as to when ATMS must be capable of processing EMV card transactions.

By Dec. 31, 90 percent of deposit-taking ATMs must be EMV compliant and 50 percent of cash dispensers must be capable of processing chip and PIN cards. And by Dec. 31, 2012, all Canadian ATMs must be capable of processing chip and PIN transactions, according to Interac Association, which links Canada’s proprietary networks that exchange financial transactions.

FICANEX and Threshold also announced that as part of the Exchange Network’s EMV implementation, Threshold installed software which enables cardholders to change their PINs at network ATMs instead of having to visit local bank branches in order to have it done.

Boyd called this is a customer convenience because some cardholders live in rural areas, many miles away from the nearest bank branch.

“We are particularly proud of the fact that we are Canada’s first network to offer the value-added service of a PIN change, which we believe will be extremely beneficial to our members and their cardholders, allowing them convenience and flexibility,” Matheson said.