Changing stripes: Four things issuers need to know about EMV migration
It’s been a little more than a year since payment-card fraud liability shifted from card issuers to retailers—and in that time, the majority of EMV news has focused on the growing pains of transition. That includes the slow certification processes, low retailer adoption, the absence of PIN verification and exaggerated consumer complaints about point-of-sale inconvenience.
But issuers have continued to make progress in getting chip-enabled cards in consumers’ hands. Mercator Advisory Group, Visa and many others have also reported positive indications that the rollout is making progress. And, to be fair, the Electronic Transactions Association reported that it was originally forecast that 100 percent U.S. adoption of EMV would take five years: about how long it took European nations just to reach the 50 percent mark.
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