News

ATMIA members meet with Fed bankers, X9 committee

January 16, 2014

Twelve ATM Industry Association members were among more than 50 guests at an invitation-only December meeting hosted by the Federal Reserve Bank of Philadelphia and the X9 Accredited Standards Committee. The topic under discussion: "Integrated Chip Payment Standards: The Next Generation."

In the midst of the challenge to find a workable EMV debit solution, the group was tasked to:

• identify and address gaps in the current ecosystem;
• ascertain whether standards are needed, and if so;
• determine what standards would be helpful; and
• suggest next steps.

Representatives from ANSI, ASC X9 and SWIFT discussed the value of standards and how proprietary standards can become part of a new open standard. Most agreed that standards should be performance-based and feasible for implementation, and that a new and open consensus standard could begin with existing standards. There also was a review of the current state of EMV, including an overview of the Canadian EMV migration by Interac.

Attendees broke into smaller groups to identify the top five "pain points" of the current EMV roadmaps and to outline what gaps could be filled by an open standard.

The top five points appeared to be:

• the need for a common AID or some other workable solution;
• potential security gaps;
• migration of fraud to CNP;
• the proprietary nature of the EMV spec; and
• fraud- and future-proofing mobile.

"The results of these discussions were quite interesting in their similarity to those already taking place within ATMIA and other industry groups," said meeting attendee David Tente, executive director of ATMIA US. "I was pleased to be included and I am eager to see how much progress can be made in the forthcoming meetings."

An online article by ATMIA provides additional information from the meeting.

Read more about EMV.

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ATM Industry Association (ATMIA)

The ATM Industry Association, founded in 1997, is a global non-profit trade association with over 10,500 members in 65 countries. The membership base covers the full range of this worldwide industry comprising over 2.2 million installed ATMs.

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