EMV Goes Global: The End of an Era for the Magnetic Stripe Payment Card
Europe has nearly completed its migration to EMV payment technology. Over the last year, key payment systems have announced plans to accelerate and drive the adoption of EMV within the United States (U.S.) marketplace. This demonstrates a significant step forward in achieving a global EMV framework. The proliferation of this technology worldwide will establish a uniformed payments ecosystem, which will enable a consistent customer experience as well as ensure the full security benefits of EMV are realised. The implementation of a secure chip payment landscape will also facilitate contactless mobile payments and the many associated services that the chip supports. In this article, Sarah Jones and Ugo Bechis discuss the EMV adoption journey, address why the U.S. decision to implement EMV is so important for other EMV-compliant countries and take a look beyond the plastic cards payment world to a virtual landscape.
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