BoV introduces new EMV acceptance infrastructure

BANK OF VALLETTA is implementing a major project using the latest technology to introduce EMV acceptance infrastructure locally. This involves the roll-out of new point-of-sale devices and management systems which enable retailers to accept Chip and PIN card transactions.

EMV is an acronym for an international standard for chip payment cards, developed jointly by Europay, MasterCard and Visa. On an international level, banks and other card issuers are currently in the process of replacing their magnetic stripe payment cards with "smart" EMV chip cards with UK banks being the world pioneers in nationwide roll-out of such infrastructure.

BoV's credit chief officer John Soler explained: "As the card industry moves to chip technology, Bank of Valletta has ensured that its customers continue to benefit from the latest security features that this brings about. BoV is investing heavily in upgrading its point-of-sale network to adopt this technology and provide additional features and benefits to merchants and cardholders".

BoV is deploying a variety of state-of-the-art EPOS terminal models across its merchant network, each better suited to support the unique needs of establishments in different lines of business.

Mr Soler announced that the new BoV EPOS terminals include counter-top models for normal retail environments, PIN pads for multi-lane retail environment and portable Bluetooth terminals for 'pay-at-table' environments. All devices can operate via standard dial-up, a new 'fast connect' dial-up or over an Ethernet connection, significantly reducing transaction times.

The full upgrade of BoV's EPOS terminal network follows a pilot project involving extensive testing that was conducted in November last year.

Mr Soler also announced that as part of BoV's efforts to continuously improve its service to merchants, the bank has introduced a new service whereby, through a new BOVAccept Online Merchant Interface, merchants have real-time access to transaction data and other value added services.

The bank is also planning to make new and innovative services available over its card acceptance network in the next few months.