Ingenico Group Industry Insights from EMV expert, Allen Friedman
How will Apple Pay impact EMV in the US?
Apple Pay is a participant in EMV in the US, but they may not have a huge impact. They will have an impact on the adoption of contactless at the point of sale, and we’re already seeing that. We’ll see merchants who have NFC capable terminals that are not turned on will want to get them turned on for NFC. It definitely has given a boost to the potential of NFC at the point of sale.
Ingenico Group Industry Insights from EMV expert, Allen Friedman
Will independent software vendors (ISVs) be ready for EMV?
The ISV’s, in a lot of cases, are not ready because they are not a unified group. You can reach a lot of merchants at the National Retail Federation, you can reach a lot of acquirers at various acquirer events, but independent integrated systems vendors are just that, they are independent. So it’s hard to reach all of them, as they have various different sizes of organizations.
What were the biggest trends at the 2015 NRF Big Show?
So I think EMV has really kind of captured the limelight here. A number of conversations with different vendors and that’s kind of squarely within the crosshairs right now. With October 2015 not that far out, vendors are working to get compliant, working to make sure they have solutions in place to help merchants get prepared. I think that’s been a central message here. I’d also say security is a big focus. So while EMV is certainly a component of the overall security story, a lot of talk about end to end encryption, tokenization is seeing increased attention as a result of Apple Pay and as a result of the number of breaches we’ve seen over the past few months here and certainly broader than payments there’s a big story around in-store engagement. So beacons are certainly a big part of the NRF message this year, seeing a lot of talk about really engaging shoppers in store, how do we keep them in the store, how do we push out relevant content to them, and how do we engage with them, how do we make the shopping experience unique, and add value and differentiate from competitors.
Ingenico Group Industry Insights from EMV expert, Allen Friedman
How concerned are merchants and merchant service providers about meeting the EMV migration deadline in the US?
Last year during Money2020, there were still a lot of people who thought the liability shift dates would be pushed out or done away with. In the ensuing year, because of a lot of things that happened in the marketplace, that’s not going to happen. The card brands made it very clear that that would not happen, and this year there’s not as much discussion about EMV. There are still some mentions in some of the panel discussions about EMV, but in the exhibit hall there’s not as much discussion about it. I believe that’s partly because the players here that are involved in EMV, transaction processing and payment presentment already have their solutions or they know what their solutions are going to be. So there’s not the need for as much conversation or as many comments.
EMV allows customers to keep their cards in their possession
A potentially confusing change in the EMV payment process, yet one that improves security, is that the customer will no longer hand over a card to an associate for processing: customers will be able to keep their cards in their own possession and control at all times.
