EMV Made Easy - How the Consumer Experience Will Change

Luke Grant's picture
Luke Grant : Product Manager, Payment

We are now less than 10 months away from the October 1st liability shift deadline for US retailers to adopt EMV technology at their indoor point-of-sale systems, and for card issuers to issue chip cards to their customers.  Current projections indicate that 70% of credit cards and 41% of debit cards will be EMV enabled by the end of 2015, and that over 50% of payment terminals will be EMV capable.  Despite these signs of progress in bringing EMV to the US, many average consumers, and even many retailers in our industry are either unaware of EMV in general, or don’t fully understand what it means for them. 

I actually just received my first EMV chip card from my bank and I was very interested to see what type of educational materials came along with the card.  I was pleasantly surprised to see a good breakdown of the benefits of EMV technology, including stronger transaction security and protection against thieves making fraudulent duplicate cards with my account information if it’s stolen.  What I found lacking in the information I received was any description of how my experience will change when I use my new chip card at a retailer.

The change in how a chip card is used at an EMV enabled terminal might initially be confusing for many consumers.  No longer will the card be simply swiped before the transaction is processed, but instead it will be left inserted in the reader throughout the complete authorization process, which will be slightly longer due to the complex authentication process involved in an EMV transaction.

The EMV Migration Forum, which is an independent body of industry stakeholders working together to promote the introduction of EMV technology in the US, has recognized that this is one area that requires more education.  “2015 is set to be a milestone year as the U.S. accelerates its move to chip payments. As such, now is the time to start ramping up efforts to educate retailers, issuers, consumers and the media on chip technology, its security benefits and the changes to the payment process,” said Randy Vanderhoof, director of the EMV Migration Forum.  In December, the EMF published the following infographic which clearly describes how EMV will change the way we pay.  This infographic is an excellent resource for retailers to use in training their staff on what to expect when EMV technology is installed at their sites.

Additional Information:

For additional resources on the EMV migration to the US and its impact on our industry, please see:

  1. Gilbarco’s EMV informational web-page
  2. Previous Gilbarco blog posts on EMV:
    1. November 2014 – Fraud at the Pump – How EMV Can Eliminate “Pump and Dump” Schemes
  3. Product Opportunities to create an ROI from the EMV Migration
  4. EMV Migration Forum – Knowledge Center

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