In October of 2015 the era of swipe-and-sign as all business will be required to have made the transition to the more secure chip-and-in, or EMV, technology. A new study released by Hospitality Technology may be unprepared to make this leap and find themselves lagging behind as the adoption deadline looms.
According to the study, while 70 percent of the surveyed restaurateurs surveyed believed it was important to have a roadmap in place for EMV adoption, on 26 percent actually reporting having such a plan today. Moreover, only 37 percent plan to make creating such a plan an priority over the next year.
There is also deep confusion about the current PCI DSS, with 86 percent reporting that their organizations are “in compliance” but far fewer are able to identify compliance with some of the 12 specific requirements.
Though not part of PCI DSS, merchants were also polled about their use of tokenization and point-to-point encryption (P2PE). The study found that Approximately 43 percent use P2PE now and 33 percent plan to add the technology by 2016. Tokenization is less common in the restaurant business, 36 percent use it now, and an additional 30 percent will implement it in the unspecified future.
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