Merchants and Issuers Continue to Lag on EMV

Nearly six months after the EMV chip liability deadline, merchants and issuers continue to lag behind when it comes to EMV-enabled POS system implementation, leaving consumers confused and systems vulnerable.

Experts, however, are not surprised.

“I think we are where we expected to be since the U.S. market is the largest and most complex payment ecosystem in the world, and there’s no mandate or requirement that retailers participate in the EMV migration,” Randy Vanderhoof, executive director of N.J.-based Smart Card Alliance, the Princeton Junction, said. “The result is there is going to be a mixed response. That is what we are seeing.”

The 4 major U.S. credit card issuers Visa, MasterCard, American Express and Discover had established October 1st, 2015 as the day when credit card fraud liability would shift to merchants if they didn’t have an EMV payment system in place.

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