As an owner of an ATM, you know how this handy cash machine benefits your business and customers and that you earn money each time a consumer withdrawals cash. What you may not be aware of are upcoming PCI mandates that may affect your ATM.

We’re here to help. Here’s what you need to know.

What is PCI DSS?

PCI DSS refers to a series of security protocols that have been put in place by major credit card companies to guarantee that businesses that take card payments are implementing the appropriate measures to protect consumer data. These standards are frequently revised in response to the continuously evolving risks posed by criminals who aim to steal sensitive consumer information.

PCI Key Block Requirements

The latest mandates, known as the PCI Key Block Requirements, aims to improve the encryption of the data sent from ATMs to payment processors. This means owners of ATMs must ensure their machines have the latest PIN pads, software and firmware.

Upcoming Deadlines:

• By December 31, 2024, all ATMs with older PIN pads must be upgraded. If your ATM was manufactured in 2020 or after, chances are you already have the correct hardware. Upgrade kits are available for most machines. However, some older machines will not have an upgrade path and will need to be replaced. If you're unsure whether your ATM has the most up-to-date PIN pad or needs to be replaced, contact us.
• By January 1, 2025, the software and firmware that operate the PIN pad must be loaded and activated.

What if you don’t upgrade?

It's critical to take action now. ATMs not upgraded and have the appropriate software turned on by January 1, 2025, will go dark. Data sent from the ATM to the payment processors will not be able to be encrypted and transmitted, leaving customers scrambling to find another ATM to get cash. Moreover, you will lose the income you earn each time a customer withdraws money.

As more consumers turn to cash to make ends meet and combat rising prices due to inflation, not having a functioning ATM on-site could have an impact on traffic and/or deter regular customers. Increased usage of debit and credit cards will also affect your profit margin in the form of higher card processing fees.

While the new PCI regulations may appear daunting, they bring significant advantages to both ATM owners and customers by securing consumers’ sensitive banking information, and play a vital role in preventing fraudulent activities.

We’re here to help! If you’re unsure whether your ATM needs to be upgraded or replaced, contact us, and we'll assist you in determining the best course of action.

We encourage you to act now! The US is still experiencing supply chain issues, and as the deadline approaches, the availability of technicians to install new PIN pads and the required software may become an issue. 

Find out if your business qualifies for a free, turn-key ATM.

Contact BFC Enterprises today!