Security Series

Accelerating EMV: Beyond The Card

EMV, as commentators have noted, affects not only hardware and software, but every card payment system, device and application.

Rather than focusing on any potential expenses, however, Philippe Benitez, vice president of Business Development at Gemalto, suggests that stakeholders should instead consider the important elements they have to gain. Perhaps most notably, Benitez suggests that EMV is essential to bringing the U.S. in line with the world and its fraud prevention practices.

“EMV is here, it’s here in the U.S.,” Benitez told in a recent interview (Jump to 0:09) . “Most of the world has already migrated to EMV chip technology. The U.S. is the last G20 country to do so.

Looking ahead to the 2015 liability shift, Benitez told that stakeholders who have not made the switch should consider these three benefits of EMV:

1. Global interoperability – Since most of the world has migrated to EMV, U.S. banks can that transition gain the ability to have their cards used with full EMV security anywhere in the world, Benitez notes. Further, merchants benefit from this global interoperability as it allows them to process transactions coming into the U.S. from foreign travelers in the same way as domestic transactions.

2. Higher security – The latest data indicates that 78 percent of all counterfeit card fraud originates in areas where EMV has not yet been widely implemented, and even the most ardent detractors of EMV admit that EMV is very secure.

All stakeholders, Benitez notes, gain a higher level of security than was available through magnetic-stripe technology.

3. Roadmap to mobile – Benitez indicated that POS terminals that support contactless EMV will in turn enable mobile EMV on NFC at merchants, meaning merchants can take advantages of all manner of popular payment methods, as well as the latest loyalty, location-based and couponing capabilities of mobile.

For more on why merchants should invest in EMV (Jump to 3:59) , and how the U.S.’s latecomer status to EMV could be its biggest asset (Jump to 5:46) , listen to our full podcast with Benitez below.


*If you have trouble with the audio player above, click here.

 Philippe Benitez, VP of Business Development, Gemalto Secure Transactions North America

Philippe Benitez is a 15-year veteran of the global telecommunications and payments industries. As VP of Business Development for Gemalto Secure Transactions North America, he leads regional development efforts to increase card revenue for financial institutions through mobile payments, EMV and other value-added services. In various senior roles within Gemalto, Philippe has helped clients launch successful commercial EMV and mobile telecom programs in Europe, North America and South America, that serve tens of millions of consumers every day. Prior to Gemalto, Philippe was with Andersen Consulting and Schlumberger. He received an MBA from the University of Texas at Austin and an MSc in Industrial Engineering from Ecole Centrale Paris.


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