In reply to CPB3.

EMV is not a mandated deadline. It's optional and the payment brands are encouraging it across all payment card industry stakeholders through incentives. Here's a reference from Visa focused at smaller merchants and discussing the option to migrate to EMV. The same rules essentially apply to any size merchant:

http://usa.visa.com/download/merchants/VBS-06-APR-14-ChipSmallTicket-Unattended-kiosk-final.pdf

Also remember that the counterfeit fraud liability shift only applies to counterfeit fraud (MasterCard expands on this if PIN is in play, but initial roll-out from about all large issuers is chip & signature).

The main point is that the massive expense and industry upheaval to bring in a 20 year old technology (EMV) that only helps secure one channel of fraud would have been better directed at newer technologies like host based authentication which could have brought about fraud reduction in all card acceptance channels (not just counterfeit card present like EMV) that meets and far exceeds the security brought about by EMV. It's strategic rather than reactionary and is where the industry is going as opposed to where it's been.