Visa Program Encourages Merchant Adoption of EMV Chip as Path Toward Dynamic Authentication
Visa announced a new Payment Card Industry Data Security Standard (PCI DSS) compliance program that will fuel dynamic data authentication through the continued merchant deployment of EMV-compatible chip terminals capable of processing either contact or both contact and contactless payments. An industry first, Visa’s Technology Innovation Program (TIP), will eliminate the requirement that eligible merchants annually validate their compliance with the PCI DSS for any year in which at least 75 percent of the merchant’s Visa transactions originate from chip-enabled terminals. To qualify, terminals must be enabled for contact or dual contact and contactless interface chip acceptance. All merchants outside of the United States are eligible and may begin qualifying for the new program from March 31, 2011. Visa Europe has announced a similar program.
