Cummins Allison ATMs get EMV certifications

MOUNT PROSPECT - Cummins Allison's complete line of ATMs have been EMV certified by Columbus Data Services, CO-OP, Elan Financial Services, FIS, First Data, Fiserv, Jack Henry and Vantiv.

The certifications include both Visa and MasterCard for all processors. Cummins Allison is the exclusive distributor of GRG ATMs in the U.S. to the financial services and gaming industries.

"With the 2016 deadline for the MasterCard liability shift well behind us, financial institutions which have yet to upgrade their ATMs are open to unnecessary risk," said Tom Conroy, senior director, self-service channel, Cummins Allison. "These certifications ensure that our customers have the ability to enable their ATM channel with the protection against security threats that EMV provides."

EMV technology reduces card-present fraud resulting from counterfeit, lost and stolen cards, and also supports enhanced cardholder verification methods.

As financial institutions consider the costs to upgrade their ATMs to be EMV compliant, many have found that that it is more beneficial to replace aging ATM equipment with new technology that delivers additional automation functionality. ATMs that feature automated deposit processing technology are rapidly being adopted by FIs that wish to provide an improved customer experience and remain relevant, especially with Millennials and Gen-X customers.

Since the adoption of EMV, fraud rates in the U.S. have started to decline. According to Visa, chip-enabled merchants saw a 43 percent drop in counterfeit fraud rates in October 2016, and MasterCard recorded a 54 percent decrease in counterfeit fraud costs among its EMV-ready merchants from April 2015 to April 2016.