Jan. 14, 2013
Revel Systems today announced that its iPad POS system now provides EMV compatibility in preparation for upcoming deadlines for EMV certification and PCI compliance.
With credit card fraud on the rise and standards set to change over the next few years, Revel Systems is attempting to boost its security and global interoperability with integrated circuit (IC) cards, and increase its flexibility and customization for existing and future clients.
Visa, MasterCard and others have put together a list of dates and deadlines for the universal adoption requirements for U.S. vendors, as follows:
- Effective 1 April 2013 – Visa will require VisaNet acquirer processors to ensure that their systems support merchant EMV chip acceptance.
- Effective 2016 – All MasterCard compatible ATMs will be required to be EMV compliant, and all merchants will be expected to have EMV terminals. Visa and MasterCard will be placing the burden of EMV implementation on the merchant, requiring all merchants to have EMV-enabled hardware by 2016, with hefty fines on all non-adopters that get hacked or have lapses in credit card security.
"The industry at large is faced with a major need to reduce credit card fraud and increase security. Revel Systems is the first to anticipate impending changes for industry standards for point-of-sale," said Revel's co-founder and CTO Chris Ciabarra. "Integrating directly with EMV readers is the logical next step for us to provide the most innovative technology solutions to our customers and also give them the surest and most secure means to reach EMV certification by the 2016 deadline. To kick things off, we're successfully up and running in the U.S. and Australia — a first for a tablet POS system."
Read more about payments and PCI compliance.