Mastercard Delays EMV Deadline To April 16, 2021, With Conditions
Last Monday, Mastercard announced an extension of its EMV liability date to April 16, 2021. In a statement, Mastercard also announced that it “will develop a compliance program for some fuel merchants who have experienced high fraud at their locations to ensure they have a remediation plan in place to preempt and mitigate fraudulent transactions at their locations.”
Click Here to view the whole statement.
PMAA is working to get additional details on the fraud mitigation program. For example, what does high fraud risk mean? Does it mean higher than average or will they use some other benchmark? Does high risk apply on a company wide basis or a particular outlet?
For example, would a marketer who has a particular high-risk outlet have to implement the fraud mitigation at all his/her outlets? What sort of fraud mitigation activities will they require?
Voyager also just issued a delay to April 17, 2021. Click Here to read the statement.
Major Card Network EMV New deadlines:
— VISA: April 17, 2021
— Mastercard: April 16, 2021
— Discover: April 16, 2021
— Amex: April 16, 2021
PMAA recently completed its own EMV survey over an 8-day period (April 30-May 7th) in which 253 companies participated in the survey. The results clearly demonstrate that a significant number of retail stations are unable to meet the October 2020 EMV deadline. Click Here for the survey results.
