Moving at the Same Pace

With its announcement, Visa is urging issuers and merchants to move at the same pace, which is positive for the U.S. In order to optimize the business case of the two market sides, issuers and acquirers / merchants / ATM providers have to move in lock step. In order to achieve this, the stakeholders are well advised to consider forced replacements of cards and devices outside of the normal replacement cycles. The additional investment has a clearly identifiable return. It is even more important to initiate the migration of the ATM installed base synchronously with the cards and devices. If ATMs are not made EMV compliant in sync with the POS devices, the life of the magnetic stripe technology will be prolonged and ATMs become the single point of failure (or fraud for that matter) in the card payment system. This is clearly demonstrated by the cross border fraud migration problems encountered in other parts of the world; the U.S. should benefit from these lessons and not commit the same mistakes.
 

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