EMV Migration in the US Progress Report: What Progress?

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21 November 2013
Zilvinas Bareisis

Abstract

EMV migration in the US has been painfully slow. Celent investigates the main factors hampering progress, reviews EMV impact on issuers, and offers predictions for EMV in the US.

EMV, a chip-based card payments technology, is widely adopted around the world and offers a number of benefits to the payments industry. However, the US is the largest market that has not yet adopted EMV and it is beginning to feel the effects. Fraud rates are escalating while customers are experiencing difficulties trying to use their cards abroad.

In EMV Migration in the US Progress Report: What Progress? Celent provides an objective assessment of the US EMV migration, offering predictions for tomorrow and providing advice to issuers on what they need to consider.

“There are at least five factors today hampering EMV progress in the United States,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking Group and author of the report. “For example, the uncertainty around Judge Leon’s ruling and Reg II has largely stalled any EMV activity around debit.”

In this context, the first question each issuer needs to answer is whether it plans to issue EMV cards at all. The next question is when. Issuers need to plan how they will address EMV’s impact on five major areas:

  1. Card product management and marketing.
  2. Back office systems.
  3. Authorization systems.
  4. Customer services.
  5. Education and communication.

Whether to outsource or keep/establish systems in-house is an important consideration when planning the IT aspects of EMV migration, also discussed in this report. The report concludes with Celent's top three predictions for EMV in the US.

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