Telecom Lead America: American Express mandates 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 second half of 2012.
The company has already adopted EMV technology on its
global network and processes millions of EMV transactions.
American Express is one of four major payment
organizations that is an equity member in EMVCo.
In order to drive interoperability across the U.S. and
other countries, the company is set to work alongside other industry
participants.
As per the network roadmap, the company has fixed that
processors must be able to support American Express EMV chip-based contact,
contactless and mobile transactions by April 2013.
In addition, the company will enable merchants to receive
relief from PCI Data Security Standard (DSS) reporting requirements, beginning
October 2013.
American Express will also set up Fraud Liability Shift
(FLS) policy, which will come into effect from October 2015.
The policy 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.
The payments industry is continuing to evolve rapidly,
and American Express recognizes the growing demand for chip-based contact and
contactless payments in the U.S,” said Suzan Kereere, senior vice president and
general manager, American Express Global Network Business.
American Express provides real time offers to card members on
their mobile
Recently, American Express introduces a mobile offer
engine that recommends and ranks merchant offers for US Card members based on
their spending history and location.
Leveraging American Express, merchant partners can
increase their revenue by providing relevant offers to the right Cardmembers.
