How will Chip affect ATB merchants?

The biggest impact to ATB merchants is that they will need to have the physical hardware to accept Chip cards. This is a huge and expensive undertaking as ATB has over 8,000 merchants and all will need their terminal(s) replaced, at ATB’s expense, with a new Chip capable terminal.

Another change that will affect merchants is how they process a transaction. Today, merchants swipe a credit card and the customer signs a receipt. To conduct a Chip transaction, a Chip card is used in conjunction with a Chip terminal. The customer inserts the credit or debit card into the terminal and ensures their card remains in the terminal while they enter their PIN to complete the transaction. For credit card transactions, PIN verification replaces signatures and is used as authorization. For debit users, the Chip transaction process is a minor change, with consumers retaining control of the card.

How will ATB manage this change for merchants?

Starting this year, ATB and its processing partner, Moneris Solutions, will be implementing a global roll out strategy to replace all existing terminals with new Chip terminals by December 2010.

In addition to replacing terminals, ATB will provide its merchants with training on the new terminals so they can process a Chip transaction.

What do the new terminals look like?

The new terminals are very compact and include the terminal, pin pad and printer all in a single unit, making a very compact and sleek device. In addition, our new IP 6200 model can be used over the Internet, resulting in very fast response times. Our new short-range cordless 8200 model enables merchants, such as restaurants, to take the terminal right to a customer for payment.

In the meantime, you do not need to do anything, you will be contacted by a Moneris Solutions agent prior to your terminal swap to schedule an appointment.