As your payments partner, we are committed to keeping you up-to-date with industry changes and card scheme developments.
There is no longer any need for contactless devices to support the use of mag-stripe, and its inclusion within terminal capabilities now presents a vulnerability that can be exploited.
To ensure the continued security of transactions, our industry is making it compulsory to remove the Mag-Stripe Mode from all contactless device specifications. Going forward only EMV mode in all contactless cards, access devices, and contactless-enabled terminals will be supported.
Customers must consider the removal of mag-stripe capabilities from their entire card-present estate at the very earliest opportunity.
For forward planning, the following hard dates have been established for Europe, after which all terminals will be expected to comply and accept EMV mode transactions only:
- From 1 April 2021, any newly issued or upgraded contactless devices must only be EMV mode contactless capable.
- From 1 January 2024, all contactless-enabled terminals must only support EMV mode contactless transactions.
Please check with your terminal provider that plans are in place to update your estate.