The implementation process must be regulated by the various card associations, government legislations as well as network mandates (Spidle,2010).
A thorough and comprehensive analysis of the Operational Impact of EMV implementation
In order to mitigate the various threats faced by the Iranian banks while implementing the EMV standards, it is necessary to conduct a thorough and comprehensive analysis of the impact that such a move would have on the general operation of the Iranian banks as well as their internal processes (OVCMarketing, 2010). The internal processes are to be reviewed in terms of the operational and business aspects. The review will ensure that all of the changes to the organization's internal process are appropriately addressed as a move targeting the overall implementation of the plan. Such a move is expected to impart positive momentum on customer service strategy which is equally important under the new EMV environment. The move would then facilitate the dynamics necessary for the training of the staff as well as the communications between the customers as well as the merchants. This is coupled with a succinct definition of roles as well as responsibilities of the various banks' branches for the process of EMV roll out and the ever necessary requirement of programme support.
The main areas to be addressed are:
The impact that the introduction of EMV would have on the operations of the existing cards and infrastructure
The effects of EMV implementation on the processes and operations of dispute resolution
The effects of EMV migration on the customer service processes as well as procedures
The need for various rigorous marketing and promotion operations aimed at supporting the newly acquired EMV programmes
A precise outline and definitions of the various roles as well as responsibilities of the various Bank Branches and other necessary distribution channels.
The impact of EMV implementation on the merchants and the need for merchant training
The training of customers, staff as well...
HSBC Appoints Gemalto to Facilitate the EMV Migration of Its Credit Cards
across 19 Markets in Asia Pacific
Chase (2010). Your Reference Guide to EMV Integration:Understanding the Liability Shift
OVCMarketing (2010). EMV the Business Challenge
Spidle, D (2010).EMV Implementation for Issuers: 7 Decisions You Must Make Before Issuing
Your First Chip Card
The rates of reduction of these cases were noted to be about 20% per year as from 2004 when the standards were introduced (UK Payments Administration LTD 2009). The exact phenomenon observed is as indicated in Appendix A. Mechanism The mechanism involved in the protection of the card details by means of the EMV technology is discussed by various scholars and organizations. SPA (2010, 1) clearly explains that the need for
They need to estimate the cost of production, personalization as well as the milling of the new chip cards. Terminals The budget should include the cost associated with the updating of terminals, Point of Sale (POS) devices and ATMs, in all types of environments. These must however be considered as new ongoing expenses and should include installation and maintenance of compliant terminals. However, the costs of infrastructures elements are not as
This is largely due to time and logistical issues involved in conducting the face-to-face interviews. However, this still represents 50% of the entire sample population. Therefore, it is expected that the opinions expressed in the interviews will be a good representation of Iranian banks. 3.5 Data Collection The primary aim of the study is to identify the challenges that Iranian banks face in the implementation of EMV. This research is divided