Provider of gaming and payment solutions Everi Holdings Inc., formerly known as Global Cash Access, announced that all its financial transaction solutions and devices operating in a number of casinos across the US are now fully EMV-compliant. In fact, Everi has become the first company related to the gambling industry to provide the EMV-chip signature option on its ATMs.
Commenting on the latest announcement, Everi Executive Vice President of Payments, General Counsel, and Corporate Secretary Juliet Lim said that they have all worked very hard in order to make sure that all their products would be EMV compliant. Over the past several months, Everi employees have updated more than 7,000 devices located in casinos across the nation.
Ms. Lim further noted that with her company now being fully compliant with the EMV chip technology, its existing customers will hopefully prepare well for its introduction at their gambling venues.
Founded in 1998, Everi, which was formerly known as Global Cash Access, is the only company within the gambling industry to provide not only financial transaction solutions but also gaming ones, including slot machines.
Everi CEO and Interim President Michael Rumbolz said that his company has emerged as the first of its kind to provide a full EMV compliance so as to address their customers’ fraud prevention concerns. Mr. Rumbolz also pointed out that their clients have so far provided positive feedback on Everi’s contribution to their effortless and seamless transition to the newly introduced EMV technology-ready systems and related products.
The popularity of the EMV chip technology has increased quite a lot over the past several years and the fraud prevention tool has gradually turned into an international standard for debit and credit card payments. Generally speaking, microprocessor chips containing and protecting cardholder data are integrated into payment tools like mobile devices and cards. In order to authenticate transactions, those connect with card readers.
It is generally believed that the EMV chip technology is really hard, if not impossible, to duplicate, unlike the magnetic strip-based debit and credit cards. Thus, when combined with different other solutions for payment security, the use of EMV technology can considerably reduce the risks of fraud occurring when gambling customers are handling their funds.
