American Express announced its network roadmap to advance EMV chip-based contact, contactless and mobile payments for all merchants, processors and issuers of American Express-branded cards in the U.S. American Express plans to begin issuing EMV-compliant cards in the U.S. in the latter half of 2012.
The company’s key policy requirements and dates are:
- By April 2013, processors must be able to support American Express EMV chip-based contact, contactless and mobile transactions.
- Beginning October 2013, merchants will be eligible to receive relief from PCI Data Security Standard (DSS) reporting requirements if the merchants’ point-of-sale (POS) acceptance locations, where 75% of their transactions occur, are enabled to process American Express EMV chip-based contact and contactless transactions.
- Effective October 2015, American Express will institute a Fraud Liability Shift (FLS) policy that will transfer liability for certain types of fraudulent transactions away from the party that has the most secure form of EMV technology. U.S. fuel merchants will have an additional two years, until October 2017, before the FLS takes effect for transactions generated from automated fuel dispensers.
As an early adopter of EMV technology on its global network, American Express is already processing millions of EMV transactions. American Express is one of four major payment organizations that is an equity member in EMVCo, an organization committed to driving secure and interoperable payments globally for chip card transactions.