Vantiv Meets EMV Deadline for MasterCard
Vantiv, the former First Third Processing Solutions, announced that it has passed the testing requirements for processing EMV transactions on the MasterCard platforms and claims to be the first card processor to do so.
The Cincinnati-based processor said it drives 13,000 ATMs for financial institutions and has more than 650 credit union clients.
Vantiv said it will deploy the first of its EMV processing technology at a New York City-area bank in late April.
"The liability shift program gives all parties a stake in applying the highest level of security to each transaction," said Mike Weitzman, group executive, U.S. Markets, at MasterCard.
"This milestone demonstrates Vantiv's commitment to ensuring their clients have a seamless experience as the industry goes through this transition. We will continue to work with Vantiv in preparing the groundwork to support smarter transactions today and drive future innovations,” Weitzman said.
Vantiv said that most of its financial institution clients deploy ATM fleets made of mixed types of machines from different manufacturers.
"We are proud to be the first U.S. acquirer to meet MasterCard's EMV requirements for these two key processing channels," said Carlos Lima, chief operating officer at Vantiv. "These efforts are a testament to our strengths in quickly implementing new payment technologies and compliance standards for our clients, which helps them stay ahead of the curve during industry transitions such as the EMV migration."
Along with meeting MasterCard's EMV processing requirements, Vantiv said it has also been certified to process EMV transactions on the NCR APTRA Edge ATM software platform.