The Basics: EMV Payment Standards for Parking Revenue
Posted: Feb, 17, 2022 9:49AM ET • 1 min read
EMV represents Europay, Mastercard, and Visa—the three organizations primarily responsible for the revolutionary chip-and-pin-based payment cards and terminals. Embedded with increased levels of security compared to magnetic stripe payment cards, EMV transactions undergo increased security and verification steps that form a global payment authentication standard. And parking is no exception.
EMV-certified payments can be chip-and-pin, tap-and-go, or mobile-based. In addition to end-user convenience, merchants must invest in technologies that enable EMV payments to protect their customer experience and bottom line from data and payment breaches.
This logic applies to paid parking programs as well. Property managers must ensure their parking technology facilitates EMV payment authentication standards. If your parking system is several years old, it's wise to ask your technology provider if your pay stations and software are EMV-certified. If not, it's time to consider retrofitting your existing system or upgrading to a new system to meet global EMV payment standards.
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ABOUT THE AUTHOR
Andrew Sgorlon
Technical Sales Support Manager
Andrew has more than 17 years of experience with automated parking solutions, being involved with the fist automated PARCS installed by Precise ParkLink in 2000. Andrew is one of Precise ParkLnk’s SMEs on all Precise ParkLink products and services. As the Greater Toronto Airports Authority’s (GTAA) Senior Account Manager (since 2011), Andrew has been instrumental in Precise ParkLink’s on-going operational support at Toronto Pearson. In this capacity, he supports Precise ParkLink’s onsite staff and is the sales/equipment representative at all GTAA parking operations meetings. Andrew is also the lead account manager for University of Toronto, Centennial College, and Durham College. Technology and automation are Andrew's work passion; he continuously looks for ways to improve and evolve the PARCS industry.
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