Financial services technology solutions provider Fiserv said on Thursday that it has developed an EMV Education and Marketing Program for financial institutions and aid in cardholder to make them aware of new payment experiences.
Fiserv said one third of the consumers don’t understand the benefits of chip cards, though they are familiar with the product.
“EMV education for cardholders and financial institution staff is critical to the fight against card-present fraud,” said Jorge Diaz, president, Output Solutions, Fiserv.
“Fiserv understands the complexities of the payments landscape and the implications of EMV. As a result, individual and industry expertise was pulled to develop specific and customizable education and marketing materials in advance of the October 1 liability shift.”
The EMV Education and Marketing Program from Fiserv includes, an EMV chip card deployment guide, training decks for staff education, templates for letters and email campaigns to cardholders and website content, including banner ads, FAQs and instructional videos.
“People have been swiping their magnetic stripe cards for decades. In order to prevent confusion, it’s crucial to explain to cardholders how their new EMV chip cards will work and to educate staff, so that they can answer questions,” said Jamie Topolski, director, alternative payments, Fiserv and member of the EMV Migration Forum Steering Committee.
Separately, Fiserv noted that InfoLink Services Limited (ISL) has chosen Fiserv as its single technology partner for all electronic payment transaction processing, delivering PCI compliance and EMV capability.
ISL is a joint venture corporation equally owned by four major commercial banks in Trinidad and Tobago. It will use POSH from Fiserv for reliable transaction processing throughout the payment transaction lifecycle.
“We selected Fiserv to consolidate our network into a single, cost-effective and versatile solution that will meet all of our foreseeable payment switching needs,” said Glynis Alexander-Tam, general manager, InfoLink Services