LAS VEGAS, June 29, 2015 (GLOBE NEWSWIRE) -- 2015 IPI CONFERENCE & EXPO – As the U.S. moves to EMV chip cards for payments, parking industry stakeholders need to review their current payments infrastructure and develop their strategy and plan for EMV migration to prepare for the upcoming October 2015 EMV fraud liability shifts. The Smart Card Alliance and the International Parking Institute (IPI) released today a new white paper, "EMV and Parking," to provide guidance and education surrounding the transition to chip technology and the fraud liability shift in the parking industry.
The white paper, "EMV and Parking," was created by the Smart Card Alliance and IPI for parking merchants, suppliers and integrators of parking equipment, software and support services, and can be downloaded for free at http://www.emv-connection.com/emv-and-parking/.
"The transition to chip technology requires infrastructure changes, and that takes time. Parking industry stakeholders should begin planning and preparation now to avoid complications and elevated fraud costs down the road," said Randy Vanderhoof, executive director of the Smart Card Alliance. "This white paper has the unique perspective of both the Smart Card Alliance members, many of whom are experts in payments, and also IPI members who specialize in parking. This allows us to provide the education and guidance parking stakeholders need to move forward with their chip technology implementations."
The white paper covers the critical aspects of deploying EMV-compliant solutions within the parking infrastructure, and provides:
- An overview of relevant EMV chip technology features and key implementation options
- Key milestones and guidance for U.S. chip migration, as announced by the payment networks
- Key considerations for parking industry stakeholders who want to accept and process chip transactions for both attended and unattended locations
- The relationship between U.S. contactless bank card transactions and NFC-enabled mobile payments and EMV
"'EMV and Parking' is a valuable tool that will facilitate a seamless migration to EMV chip technology which is fast upon us," explains Shawn Conrad, executive director of IPI. "It's the first joint project in what is proving to be a very important partnership between the Smart Card Alliance and IPI."
The white paper highlights that the parking industry migration to an EMV solution requires input from all participating stakeholders of the payment ecosystem—parking operators, acquirers, systems integrators, PARCS providers, and parking consultants. Receiving guidance from and working collaboratively with all stakeholders are critical to success.
Smart Card Alliance and IPI members that contributed to the creation and/or editing of this white paper include: Aberdeen Management Group; Accenture; CH2M; Creditcall; Giesecke & Devrient; HUB Parking Technology; Ingenico; LTK Engineering Services; Lumin Advisors; MasterCard; Metropolitan Transportation Authority (MTA); OTI America; Parkmobile; Sentry Control Systems; Southeastern Pennsylvania Transportation Authority (SEPTA); SP Plus Corporation; T2 Systems; Texas A&M; Verifone; and Visa Inc.
About the International Parking Institute
The International Parking Institute (IPI) is the world's largest association of parking professionals and the parking industry. www.parking.org.
About the Smart Card Alliance
The Smart Card Alliance is a not-for-profit, multi-industry association working to stimulate the understanding, adoption, use and widespread application of smart card technology.
Through specific projects such as education programs, market research, advocacy, industry relations and open forums, the Alliance keeps its members connected to industry leaders and innovative thought. The Alliance is the single industry voice for smart cards, leading industry discussion on the impact and value of smart cards in the U.S. and Latin America. For more information please visit http://www.smartcardalliance.org.