Questions Remain for US EMV Migration

Last updated: 21 August 2014

The U.S. migration to EMV chip payments is well underway, with many industry stakeholders on track to meet October 2015 liability shift deadlines. But, the U.S. won’t be fully migrated overnight – it will take years to replace all of the cards in America, and the payment terminals at stores, too. Most in the payments industry aren’t expecting to reach “ubiquity” – when the majority of payment cards and terminals use EMV – until a few years after the 2015 liability shift.  There have been some hurdles along the way and some surprises, including the much-publicized retailer breaches at the beginning of this year.

Making such a major change to our payments infrastructure brings about questions and comparisons to other countries who have migrated to chip.  Check out our recent PYMNTS article for the fulls story:

The Great Migration to EMV link

The article gives insight into a few pressing questions facing card issuers this year:

  • Is chip-and-signature secure enough for the U.S.?   American card issuers are issuing chip cards with both chip-and-PIN and chip-and-signature, depending on their preferences and business requirements.  How important is chip-and PIN?
  • Should the U.S. adopt contactless EMV payments?   How did it work out for the UK and Australia when they tried to go contactless?
  • What can EMV provide for mobile payments?   NFC technology is complementary to EMV and many countries are now deploying integrated payments solutions.

Or check out our infographic explaining EMV chip technology and the U.S. migration

EMV infographic

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