EMV’s perception issue

first_imgSo, how’s that EMV (Europay, MasterCard, Visa) rollout going? The answer probably depends on who you ask.The holiday shopping season never brought the point-of-sale meltdown some feared. When asked to grade the rollout, payments practitioners at banks, card networks, and independent sales organizations usually answer with either a “B” or a more guarded “incomplete.”Slowly but surely, consumers are using EMV cards, but their point-of-sale experiences haven’t been uniform. And with well more than half of card transactions still being processed via legacy magnetic stripe, this transition may continue for some time.Some consumers grumble about EMV transactions taking too long. Of course, few consumers know the term “EMV.” Instead they refer to chip card transactions and perhaps the dip versus swipe process.On one level, this complaint has a factual basis. A tokenized EMV transaction involves the transmission of larger packets of encrypted data, as well as a greater number of round trips between terminal and card network. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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