How Is EMV Transition Going?

eSecurity Planet – Several months after the October 2015 deadline for card issuers and merchants in the U.S. to shift to EMV (chip-based) credit and debit cards, a recent Boston Retail Partners survey found that just 22 percent of retailers currently support EMV, with another 53 percent planning to do so within the next 12 months. Sixteen percent say they have no plans ever to support EMV.

Separately, a recent CardHub survey found that approximately 42 percent of larger U.S. retailers haven’t updated the point-of-sale (POS) terminals in any of their stores, and 24 percent have updated fewer than 50 percent of their terminals to accept EMV cards.

Why So Slow on EMV?
One problem, Boston Retail Partners vice president Ryan Grogman said, is that point-of-sale systems in the U.S. are relatively complex, making the EMV upgrade process more challenging than it might otherwise be.

“Support for EMV can often mean not just an upgrade of these payment terminals to support the new insert/dip process, but also changes to the POS application, changes to payment gateways and potentially changes at the credit switches,” he said.

He cited long lead times for new payment terminals and certification, a limited set of payment switch development resources and payment provider support resources, and a scarcity of POS developers as factors contributing to a big backlog in EMV implementations.

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