Making EMV Work across New Markets
Last fall, when Visa announced plans to drive chip card and mobile payment adoption, the question of whether the US will adopt EMV chip technology was made redundant, with two questions remaining in its place: when and how? By December 31, 2011, more than one million EMV chip-enabled cards had been issued by US financial institutions. MasterCard and Discover have since published their recommendations of how to roll out EMV in the US. With deadlines of between 2013 and 2015, financial institutions need to start planning how to protect their current infrastructure investments while meeting these new requirements cost-effectively. Compass Plus looks at the advantages of making the switch to the EMV standard and offers guidelines for successful implementation.