Retailers and customers who have decided to adopt EMV-chip cards before MasterCard and Visa’s adoption deadlines can learn best practices from countries that have already adopted, according to ISO and Agent. For instance, Canadian merchants have already made the transition and experienced some of the challenges customers face.
Shoppers have often become distracted and left their cards behind when using the new systems since they aren’t handing cards over for cashiers to swipe anymore, the news source explains. Instead, customers have to insert their cards into a reader and wait for it to authenticate the chip.
Depending on the transaction amount, customers might also have to wait to verify their purchase with a PIN entry or signature, reports the source.
Currently, there are more than 1.34 billion EMV cards in circulation globally, according to EMVCo, the industry-owned organization that manages the chip standard, as reported by Business Insider. Although they have yet to be adopted on large scale in the U.S., some travelers might want to switch over before vacationing out of the country. In addition to the added security benefits, a foreign business might only use a credit card terminal that primarily takes EMV card payments.Back To Blog