SMB Retail discuss the impact of EMV in the US in their article “Snapshot in Time: EMV in the USA” by Angela Diffly:
Three Little Letters
The Electronic Transactions Association (ETA) hosted its big shindig, TRANSACT 16 last week in Las Vegas. Since every trade show is part frantic blur, part insane race to the finish, I walked away with a ton of great conversations swirling inside my brain. I met with leading payments executives from the biggest players, like Vantiv, Samsung, Cayan, Verifone, Ingenico and Intuit.
Every conversation had its highlights, but the biggest buzz sat squarely on three little letters, EMV (Europay, MasterCard and Visa or chip card standards). As such, I thought we should take a closer look at the most current information out there associated with chip cards in the USA. EMV seems to be shrouded in controversy; there’s mystery and misunderstanding about security, certification, liability and overall readiness. As Vantiv’s Matt Ozvat, the company’s head of developer integrations, put it, “There’s fear, uncertainty and doubt around EMV, but the customer experience is ripe for innovation. There’s this tension around how to innovate and stay secure at the same time, and that’s how change happens.”
In omnichannel payment platform Worldnet’s recently released report “Squaring The Circle: Driving EMV Migration in the USA”, co-founders William Byrne, CEO and Dr. John Clarke, head of product innovation, asserted that EMV is “a journey that has only just started. Over 90 percent of the nation’s merchants are represented by small and mid-sized businesses, so, in many eyes, the hard work really only starts now.”
Continue reading Angela’s article here.