Visa Clarifies U.S. EMV Implementation Strategy

What's Next In Payments®
3:03 PM EDT January 17th, 2012

After deciding to push the adoption of EMV in the United States last year, Visa has clarified that this does not refer to the introduction of chip and PIN cards, according to a report by Finextra.

In August of 2011, Visa released a plan for the U.S. adaptation of EMV in an effort to help prep the country for the imminent entrance of NFC-enabled mobile payment devices.

Stephanie Erickson, head of authentication product integration, recently addressed some of the industry’s questions on her blog.

“One thing that’s clear from the questions is that there’s a lot of confusion around the myth that EMV means ‘chip-and-PIN.’ It doesn’t in many countries, including the U.S.

“As a late adopter of EMV, there’s a great upside for the industry in the U.S., because we can avoid much of the cost and complexity involved in deploying older-generation chip cards, while still reaping all the benefits of reduced counterfeit fraud,” concluded Erickson.

Currently, there are over 1.3 billion EMV payment cards in global circulation and over 20 million terminals in use worldwide, according to EMVCo.

Click here to read the complete article.

Visa originally announced the EMV project in August 2011.

Related:  Tips for 2012: Top EMV Ignition Strategies and Mobile Security Solutions

Comments
Also by This Author
What's Hot
News
Who Really Owns the POS and Customer Data?
B2B Payments
No Apple Pay For Amex Corporate Users
B2B Payments
With New VC Dollars, GoCoin Pledges B2B Payments Push
Company Spotlight
Apple May Soon Hit Sale Of Billionth iOS Device
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
News
Who Really Owns the POS and Customer Data?
B2B Payments
No Apple Pay For Amex Corporate Users
B2B Payments
With New VC Dollars, GoCoin Pledges B2B Payments Push
B2B Payments
Tipalti Lassos In $13 Million In Series B Funding
View All Articles ››