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For retailers, confusion reigns after EMV rollout

Discussion in 'CSO' started by RSS, Nov 16, 2015.

  1. RSS

    RSS New Member Member

    Confused. That’s the best word to describe retailers more than a month after the October 1 deadline passed for businesses to become EMV-compliant – by installing new EMV-capable credit card readers and acquiring certifications from various payment networks, among other requirements. The resulting liability shift means business owners are now on the hook for any fraud problems that arise from credit card transactions in their stores if they don’t migrate to the technology.

    But, in a twist, Time recently reported that only about a third of merchants have actually completed the migration, according to analyst estimates. For many small businesses, the cost of EMV migration is steep, and there are questions regarding the technology setup and compliance requirements. Some retailers may find the EMV transition is as simple as replacing or upgrading existing hardware and software. But other merchants use sophisticated point-of-sale (POS) systems to manage not only payments, but also critical business functions like inventory, scheduling and promotions, so figuring out the right path to EMV compliance is a challenge.

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