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Adoption of EMV in the U.S.

Update: This is an update to a past blog post entitled Does Your Point-of-Sale System Support EMV Credit Cards? originally posted on October 10, 2014. You can find that post here.

If you walk into most retail stores around the globe, you're likely find EMV credit card readers at point-of-sale (POS) cash registers. Short for Europay, MasterCard and Visa, these EMV credit card machines aren’t simply optional — they’re increasingly becoming the norm across Asia, Europe and even nearby Canada.

But in the United States, the technology is just beginning to appear in retail stores and other businesses. As of October 1, 2015, merchants that do not migrate to EMV card processing will be responsible for financial liability in the event of losses resulting from fraudulent or counterfeit card-present transactions. This deadline was implemented by the major card brands to reduce the substantial amount of money that could be lost due to fraud. Total cost of fraud could top $10 billion unless the U.S. payments industry makes progress implementing chip cards before the end of 2015, Forbes estimates. The late introduction of these new requirements – along with the financial costs of upgrading your payment processing infrastructure – is one reason merchants have been slow to embrace EMV.

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