Expand education for merchants and consumers, explore NFC/Contactless acceptance, and deploy future-proof solutions
At the annual Money20/20 conference in Las Vegas, Ingenico Group (Euronext: FR0000125346 - ING), global leader in seamless payment solutions, today released the results of an exclusive survey of 1,000+ U.S. consumers providing insights on their use of EMV (chip) debit and credit cards. The survey results identify five key factors that impact the success of the EMV migration in the U.S.: merchant preparedness, consumer preparedness, cardholder perceptions, habituation and education. While the October 1 st EMV deadline has passed, the survey findings present key opportunities for the entire payments ecosystem to continue working closely together and with merchants to ensure they have the education, tools, and technology they need to ensure the U.S. successfully completes its migration.
Highlights of the findings:
Based on our experience supporting other countries through their EMV migration, we believe the U.S. is progressing comparably at this stage,” said Rod Hometh, Senior Vice President Strategic Development, North America at Ingenico Group. “Even with all the education that exists in the market, there is still work to be done over the next 12 months. We will continue to track the progress of EMV adoption to better understand what forms of education are the most effective. We also plan to continue working closely with our merchants to ensure they are able to accept the latest NFC/contactless payment options, as this has proven to help reduce the friction of EMV migration in many other countries around the world.”
The U.S. is the last developed country in the world to move to the EMV standard. Based on its experience rolling out EMV in dozens of other countries, Ingenico Group believes it will take up to two years for EMV to fully penetrate the U.S. market. To help facilitate the migration, Ingenico Group provides a wide range of EMV resources to its customers and partners, including webinars, ebooks, and even consumer-facing materials such as signs at the checkout on how to use an EMV card.
Ingenico Group will share the full results of the survey at the Money20/20 conference, taking place in Las Vegas, Oct 25-28. Visit Ingenico Group at booth #2108 to learn more or to pick up a copy of the survey Executive Summary.