Slow EMV conversion has international implications

Many sources have commented on the relatively slow pace of U.S. businesses adopting EMV card-reader processors at their establishments. The solution could require a long period of development as these standards become more normalized, with owners adapting to the proliferation of these cards to promote their use. However it happens, merchants need to understand that smart cards don't just impact domestic business, but have possible worldwide ramifications.

It's worth noting that the use of EMV systems in the first place owes a heavy debt to its success in Europe. The specific signatures a chip-enabled card generates each time it is used make it better suited for international use, making it more difficult to create card duplicates. stated that many merchants in other countries expect an EMV card, and that 73 percent of Americans will have this kind of card by the end of the year. Even so, it could be nearly two years until the U.S. makes significant progress and abandons its "EMV outsider" status. The source also adds that more than 1 billion credit and debit cars "have to be upgraded to chip cards."

Professor Josephine Wolff of Rochester University pointed out the larger repercussions of an ongoing reliance on stripe cards in a piece for The Atlantic.

"Microchips are much harder to counterfeit than magnetic stripes, but most payment cards—even in countries that have long since transitioned to EMV technology—still feature magnetic stripes because merchants in the United States still require them," Wolff wrote.

Merchants that expect a high degree of foreign business could consider the multiple benefits of EMV implementation as they accommodate many different consumers. Doing a thorough check on credit card processing software will help businesses work on their point of sale terminals in the least disruptive way possible.

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