The Maestro Property Management System suite (PMS) is certified for Chip & PIN processing for North American hotel operators. Maestro will provide support for multiple payment card processing providers that accept Chip & PIN payments.
"EMVCo has set an important October 2015 deadline that affects hotels," explained Maestro PMS President Warren Dehan. EMVCo is the organization that facilitates worldwide interoperability and acceptance of secure payment transactions. "On that date, credit card liability in the U.S. will shift from card issuers to acquirers for counterfeit fraud card-present POS transactions if the merchant does not have an EMV-enabled (Chip & PIN) POS device."
"Chip & PIN processing has greatly reduced credit card fraud in Europe, and we expect the same benefits in North America,” Dehan said. “That is why Maestro PMS acted early for certification for EMV-approved processing support to help operators avoid liability for fraudulent transactions."
EMVCo was formed in 1995 and stands for Europay/MasterCard/Visa. EMVCo is owned by American Express, JCB, MasterCard, and Visa. It manages, maintains, and enhances the EMV Integrated Circuit Card Specifications to ensure global interoperability of chip-based payment cards with acceptance devices, including POS terminals and ATMs.
"Chip & PIN processing protects the hotel operator if a charge is disputed and the cardholder used their pin on a chip card that the hotel honored," said Dehan. "However, the liability for fraud shifts from the credit card company to the merchant hotel operator if the operator could not process the Chip & PIN transaction." Dehan noted that newly issued credit cards will have an integrated chip embedded to create a more secure card. The chip coincides with a cardholder's required code, or PIN, to authenticate the transaction. Card readers operate like magstripe authorization, but a cardholder's PIN is required for payment. Payments are processed the same as with a magnetic credit card.