CenPOS, a US-based payments company, has completed its EMV (Europay, MasterCard and Visa) certification with Visa, American Express, Discover and MasterCard.
Under the current migration plan, announced in August 2011, merchants processing 75% or more of their transactions captured by EMV terminals will be relieved 100% from Account Data Compromise compliance.
The certification will ease the burden of POS fraud liability, PCI compliance for CenPOS that provides a unified payment platform supporting PayPal, ACH, remote deposit capture, gift cards, cash, and debit, credit card transactions for businesses including retail, mail order and ecommerce.
CenPOS co-founder and chairman Jorge Fernandez said: "Under the current Card Association mandates the weakest link in the payment ecosystem will bear 100% of the POS fraud liability, which is currently assumed by the card issuing banks.
"CenPOS merchants can now be early adopters of EMV and avoid the risk of being ‘late to the game’ and possibly not meeting the current deadline."