Canada is migrating all payment cards to EMV
In June of 2003 Visa Canada announced that it would migrate all Visa Cards to EMV Chip Cards beginning in October 2004. Recently Visa told some members of the press that the Liability shift would occur in October of 2010. What no one knows is what positive incentive the acquirers will use to induce the large multi-lane merchants, who invest in their won PIN pads and Point of Sale Equipment to make the necessary investment in upgrading their systems to EMV compliance.
PA&A's projection for the timeline of the Migration to Chip in Canada
June 2003
November 2003
October 2004
January 2004
Look for the Video clip "Your Money"
February 15th 2005
February 25th 2005
12 Canadian Issuers and 5 Acquirers Commit to Introduce MasterCard Chip Cards
October 18th 2005
December 21st 2005
MasterCard Canada announced today that 12 of its card issuers will be working with MasterCard and five leading acquirers to introduce chip-enabled MasterCard payment cards in Canada by 2010. With 17 commitments to date on the migration to chip, MasterCard is leading the market in Canada.
Second half 2007
October 2010
Dec 31, 2010
Interac will Fine for non-compliance
|
% of Cards/Devices to be
Converted |
Dec 31, 2010 |
Dec 31, 2012 |
Dec 31, 2015 |
|
Deposit-taking ATMs |
90% |
100% |
-- |
|
Other ATMs |
50% |
100% |
-- |
|
POS
Devices (excluding AFD devices) |
35% |
60% |
100% |
|
Automated Fuel Dispensing (AFD) Devices
|
0% |
25% |
100% |
|
Debit Cards with PINs |
65% |
100% |
-- |
December 31, 2012
All Interac Cards have a Chip in them