New Technology Innovation Program is All About Secure Transactions
A move toward EMV can help merchants cut their security compliance costs
That's the message from Visa Inc., which last week announced the launch of the Visa Technology Innovation Program, which is designed to eliminate eligible international merchants from annual validations of their compliance with the Payment Card Industry Data Security Standard.
The goal: to encourage merchants to move toward dynamic data authentication, which EMV chip technology makes possible.
In order to qualify for the Technology Innovation Program, international merchants in EMV markets must prove that at least 75 percent of their transactions are EMV chip transactions. They also must validate previous compliance with the PCI-DSS, and they cannot have a breach of cardholder data history on their records. The program takes effect March 31.