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The following is the current status of Chip and Pin - Chip and Sign payment processing with EMV (Europay, MasterCard, Visa) and Windward System Five.
Please note that this device supports a new EMV feature called Quick Chip which is causing some confusion among merchants such as not asking for PIN on Debit. PIN is an option feature for credit and debit and is controlled by the card issuer and PIN Pad capabilities.
The vx805 supports:
Supported US Processors
Certified USA EMV PINPads
Installing Mercury Netepay for US-EMV
Vantiv/Mercury PIN Debit upgrade
Vx805 EMV Errors
Most US processors have now been EMV Certified with datacap netepay.
The US EMV liability shift has been set for October 2015, which means that the merchant may be liable for any fraudulent manufactured card transaction made at a non-EMV terminal with an EMV capable card.
Fraudulent manufactured cards are those where skimming devices are used to collect the magnetic strip information and then a new card is manufactured or the MSR information is replaced on an existing card.
Note that there may be fraudulent non-EMV cards made from EMV cards, which means just because there is no chip, it still must be swiped on an EMV capable PINPAD. The EMV PINPAD will detect from the MSR that it should have a chip and ask for you to insert the chip.
As most card issuers are implementing Chip and Sign, the EMV transition will only protect the merchant against fraudulently manufactured cards. It will not protect against stolen cards that Chip and PIN does. The merchant will still need to verify the signature, which does not work well with the EMV practice of keeping the card in the customer's possession.
Understanding the 2015 U.S. Fraud Liability Shifts
Important each piece of EMV hardware (pinpad, chip reader) must be certified with each processor and each piece of software. This severely limits the available pinpads for a given processor due to the time and expense of EMV certification. Just because a pinpad has a chip reader, it does not mean it is EMV certified with any or your processor.
These devices have been tested with Windward System Five. They are not available with all processors yet. Not all devices have been tested with all supported processors by Windward Software.
These devices will NOT be EMV certified as they are no longer PED/PCI compliant.
The US EMV Debit network is not fully EMV compliant for all processors,banks and banking networks. Please contact your merchant services provider for information. Some debit transactions will require you to swipe a debit chip card, some will process as if it is a credit card.
EMV Currently Debit is available for
A signature debit transaction is when you process a debit card by having your customer sign the sales receipt instead of entering their PIN number.
Processing a debit card in this manner causes the transaction to be routed through Visa, MasterCard or Discover's interchange instead of through a PIN debit network. For this reason, signature debit transactions are also referred to as offline debit transactions because the transaction is off the debit network's radar.
Depending on which card brand's logo is on the debit card, Visa, MasterCard or Discover's interchange fees are used to determine the charge for a signature debit transaction.
A PIN debit transaction is when you process a debit card by having your customer enter her personal identification number (PIN) using a PIN pad to complete the transaction.
Processing a debit card using a PIN causes the transaction to be routed through a debit network instead of through Visa, MasterCard or Discover interchange.
In the case of a PIN debit transaction, the debit network through which the transaction is routed will determine the charge for the transaction.
Signature debit transactions are less expensive than PIN debit for businesses with smaller average tickets. PIN debit transactions are less expensive for businesses with larger average tickets.
The reason for the difference comes down to the fee structure of signature versus PIN debit transactions. Signature debit transactions have higher percentage-based fees and lower transaction-based fees, while PIN debit transactions have lower percentage-based fees and higher transaction-based fees.
This difference in charges is mainly due to the processor's markup that is applied to each type of transaction.
In the case of a signature debit transaction both a percentage-based and transaction-based markup is applied by the processor.
The Durbin Amendment to the Wall Street Reform and Consumer Protection Act has capped debit fees at 0.05% plus a $0.21 transaction fee for banks with assets of $10 billion dollars or more. Banks with less than $10 billion in assets have not had their fees capped. The rates used in the examples above assume that unregulated debit cards were accepted.
The Durbin Amendment has caused the card brands to create two sets of fees: one for regulated card-issuing banks, and another for unregulated card-issuing banks.
Level 2 Processing sends tax, purchase order number or customer number information. Purchase Card transactions (credit cards assigned to businesses) require this information and transactions without it will be subject to higher transaction rates. Windward System Five supports Level 2 with some processors.
Level 3 processing has field information such as the items sold or discounts given. Credit card transactions submitted can obtain lower interchange rates and provide merchants with a lower processing cost. Level 3 Processing is not supported.
Q. How can I configure the transaction slips.
A. The transaction slips are certified as part of the EMV certification. They can not be altered without recertification.
Q. The customer does not know their PIN and the card is asking for a PIN.
A. The customer will have to contact their bank to obtain a PIN. There is no provision to sign for chip card that has been programmed for a PIN when running the card through an EMV enabled PIN Pad.
Q. The card used to be able to be used as a credit card where the customer signs or a debit card where the customer enters a PIN.
A. If the card is programmed to be used as a credit or debit card, the customer will be prompted on the PIN pad whether they want to use credit or debit. They will still be asked to enter a PIN number for credit if that is how the issuing bank programmed the CHIP card.