The U.S. switchover to secure EMV (Europay, MasterCard, and VISA) payments has occured; it is simply a matter of time until the entire North American payments industry adopts this proven chip-based card authentication technology that meets global EMV security standards.
Transforming the current U.S. payments infrastructure, including upgrading payment networks and devices, will offer complex challenges and enormous benefits. A smooth transition will require extensive knowledge and global expertise in EMV protocol, smartcard payment processing and card data security.
With the EMV migration deadline now passed in the US, questions about why businesses should accept EMV chip cards are pouring in. A lot of these questions are based on incorrect information and myths that are rampant in the industry right now. Here are 6 reasons why businesses should start accepting EMV.