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ATMIA, Welch ATM co-publish FI-directed EMV white paper

September 3, 2013

The ATM Industry Association and Welch ATM recently announced the release of their co-produced white paper aimed at helping FIs with the transition to EMV. Concerns specific to banking are addressed in "The Long Road to EMV: An In-Depth Look at EMV and How It Will Impact Financial Institutions."

The free white paper covers a number of EMV-related topics:

• the reasons for the move to EMV in the United States;
• the importance of a common debit solution;
• the cost of fraud vs. the cost of migration;
• how EMV will (or will not) benefit financial institutions;
• the move to mobile technology and how it could leapfrog EMV;
• implications of the liability shift for FIs; and
• the need for consumer education once EMV technology is in place.

"There are many steps that need to be taken before the United States is capable of moving forward with EMV migration," said Rebecca Hellmann, marketing manager for Welch ATM. "This white paper will help financial institutions understand what those steps are and give them a better idea of what type of information they need to begin making their migration plans and educating customers and members about the change."

According to a recent Nilson Report, the U.S. accounted for 47.3 percent — around $5 billion — of global losses due to skimming in 2012.

The paper is available for download from the ATMIA and Welch ATM websites.

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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