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Why have most merchants missed the EMV deadline?

Taylor Armerding | Oct. 9, 2015
The Oct. 1 deadline to shift from “swipe-and-signature” credit cards to EMV, or “chip and PIN” has been known for years. But merchants, and even some of the card brands, have been slow to respond. One major reason, according to merchant advocates: It’s too expensive and too complicated

Companies like Starbucks, he wrote, have, “demonstrated conclusively that consumers will use mobile phones for payment.”

And he believes that, “the move from passive magnetic stripe cards to smart cards is a big jump, but from plastic cards to smartphones will be the payment industry’s equivalent of the shift from horses to automobiles.”

He goes into considerable detail in his paper, but summarizes what he called, “a wealth of advantages for merchants (from mobile payments), delivered with minimal to no operational disruption, including:

  • Better customer experience
  • Better tracking and analytics
  • Better fraud detection through reference tokens
  • Implements P2PE with no loss of functionality
  • Reduced breach potential through systematic removal of PAN data

“These are in addition to the trumpeted reduction in liability,” he said.


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