Wednesday, August 10, 2011

VISA to Waive PCI Testing With Chip&Pin Terminals

Network World - VISA today announced plans that will let qualifying merchants in the US eliminate annual validation of their PCI compliance if they are using point-of-sale (POS) terminals that support the chip-based EMV payment-processing technology (instead of magnetic-stripe cards) as well as support the wireless standard called Near Field Communication (NFC) for mobile payments.

VISA says its incentive program will help prepare the nation's payment infrastructure for the arrival of NFC-based mobile payments by building the necessary infrastructure to accept and process chip transactions that support a PIN at point of sale.

For more information, see VISA's Information Bulletin.

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