As contactless payments continue to take hold in the US, many merchants and issuers are looking to provide these capabilities to their customers. With both magnetic stripe data (MSD) and EMV contactless technologies in the market, the US Payments Forum released a resource to help merchants, issuers and acquirers understand the contactless operating mode rules set by each of the payment networks.
“Contactless emerged in the US before the migration to EMV chip technology and, as a result, there are two operating modes that coexist today: contactless MSD, and contactless EMV,” said Randy Vanderhoof, director of the US Payments Forum. “Contactless MSD is being phased out as merchants, acquirers and issuers are now capable of processing EMV chip data. The US is now in a transitional period with both modes active, creating a complex environment for merchants and issuers to navigate when trying to align to each of the payment network’s rules. This resource provides clarifications on these rules to simplify this process.”
This white paper:
- Outlines the advantages of contactless EMV vs. contactless MSD technologies
- Provides an overview of each payment network’s current contactless requirements for issuing contactless cards and devices and accepting contactless payments