Payments News

Theory Of Payments Evolution: EMV Will Get Better With Age

Nov 03, 2017
If there is one universal truth in payments, it’s that the easier a process feels to consumers, the more difficult it was to implement on the back end. Such is the case with EMV — the chip that allows customers to pay with a credit card by inserting or “dipping” it into a point-of-sale (POS) card reader instead of swiping the old mag stripe.

Consumers have eagerly embraced the EMV chip, believing it to be more secure, but merchants have not been so quick to open their arms to the new method, even after the 2015 fraud liability shift went into effect. Two years later, only half of U.S. merchants are EMV-enabled.

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