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2010 Scotiabank Commercial Card Conference
CHIP & PIN Migration
Presented by:
Dan Berkovich
Commercial Card Product Manager, Canadian Market
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Agenda
What is a Chip Card? Why migration to Chip? Migration time-lineMigration ExclusionsCard Production during MigrationCardholder ExperienceCardholder Communication‘Fact Sheet’ Review
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
What is a Chip Card?
A debit or credit card that contains an embedded computer chip which allows it to securely store and process data.
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
What is a Chip Card?
Chip can handle stand alone or multiple applications (Credit, Debit, Loyalty, etc)
Chip cards require a PIN
Chip card carries all the data conventionally on a magnetic stripe and much more … allowing more functionality and “two way” dialog
Chip hardware and the cryptographic standards are virtually hack proof
EMV Co (Europay, MasterCard, VISA) have clearly established international interoperability standards: cards, ABM’S, point of sale devices, issuers and acquirers
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Why migration to Chip?
Provides increased protection against counterfeit, lost and stolen card fraud.
Provides potential for added card functionality.
Moves the Canadian financial industry to a technology proven, and in wide use around the world.
Credit card fraud has been significantly reduced in over 45 counties where Chip & PIN technology has been introduced. Fraud moves to the ‘weakest link”
In the UK High street losses on face to face transactions fell from £ 218.8m in 2004 to £ 73M in 2007 ( 67% reduction )UK counterfeit card fraud decreased 32% in 2007 UK cash machine fraud decreased by 44% in 2007
VISA Liability Shift
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Migration time-line*
Chip Functionality Enabled at
Company Level
Qualifying accounts have expiration
date updated and cards requested
Cards produced & sent to company
or cardholder
First Business Day of Migration
Month
Middle of Migration
Month
Ten Business Days after Migration
*All time-frames are approximate and depend on migration month
Old cards are deactivated
Three Months following card
receipt
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Migration Exclusions
New cards issued since Chip functionality was enabled
Cards reported lost/stolen since Chip functionality was enabled
Cards that naturally reissued during the migration month
Accounts with zero plastic outstanding (i.e. Ghost cards )
Any accounts that would not qualify for a natural reissue(i.e. Closed Accounts)
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Card Production during Migration
Due to the large volumes of cards being produced during the Chip Migration, the estimated production time will be 10 business days.
Contact Centre will wait until following day to order Chip cards
Any non-migrating Chip cards ordered during migration will be purged andreordered in order to avoid increased production times.
Cards produced during any other day of your migration month will be subject to normal production times. These include:
Natural Reissue Card New Cards Lost / Stolen CardsRejected Cards from Migration
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Cardholder Experience
Card Activation
In order to activate their Commercial Chip Cards and select a PIN, cardholders will require:
1. Their Date of Significance
2. Their reference number (located on the card carrier)*
* Reference number will be required for any future PIN changes
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Cardholder Experience
First Chip Transaction after card activation & PIN Selection
PIN will become enabled after first transaction at a Chip terminal
Cardholders will not be prompted to enter their PIN
Terminal will automatically print a slip for cardholder to sign
All subsequent transactions at Chip terminal will require a PIN
First Chip Transaction after PIN change
Cardholders will need to enter PIN three times
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Cardholder Communication
Chip Card Carrier
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Cardholder Communication
Cardholder Guide
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
“Fact Sheet” Review
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Questions?
G L O B A L T R A N S A C T I O N B A N K I N G2010 Scotiabank Commercial Card Conference
Thank you!