In most of the countries around the world, there is no major business analysis done to check the need and feasibility of migrating ATMs to EMV. At best, it is more of an execution planning, given the central bank mandates, liability shifts and increasing frauds.
As the banking costs are raising and customers are frustrated with raising banking charges, self servicing ATMs are seen as additional channels for service delivery. Ways are being identified to converge ATM services to complement with customer owned devices like mobiles.
Every country is at its own stage in EMV migration and that does not make life easier with international payment network agreements. Some are starting to implement EMV, some have already migrated POS and so on and so forth.
Given such importance to ATM, migrating them to support EMV is a project that would have several stakeholders, various compliances, internal systems and the customers. Planning, coordinating and communication are the key activities to make it easy on the customers and other stakeholders. At the end, the focus is always the customer and their delight in smooth transition from magnetic stripe to EMV.
The following are some of the key tasks, when addressed will make things easier in the migration:
The banks that use third party processors also need to ensure that their customers are taken care of, by being a part of the processor planning and migration.
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