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Should sensitive cardholder data be held as standard in magnetic stripes on European EMV cards?
The European ATM Security Team (EAST) has conducted a website poll on this topic. On currently available plans, by the end of 2010 all ATMs within Europe are expected to be EMV (Chip and PIN) compliant. The data on the magnetic stripe is no longer required for a transaction at EMV compliant payment terminals and ATMs. Over the past decade the industry has invested a substantial amount into this technology. The magnetic stripe data, which is vulnerable to being copied or ‘skimmed’, is only required for transactions outside Europe at terminals/ATMs that are not EMV compliant. EAST is bringing focus onto this issue to encourage industry discussion and debate.
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Steve Haley Director of Market Development and Partnerships at Mojaloop Foundation
01 July
Matt Ryan Chief Transformation Officer at Reef
Anne Willem De Vries Co-founder and CEO at Silverflow
James Smith MD at Dsruptiv Ltd
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