News & Views - Savantor

US EMV – How long will it remain relevant?

Thursday, 09 April 2015
According to Forrester Research the US is unlikely to achieve a broad adoption of EMV Chip and PIN before 2020, despite the liability-shift deadline being due later this year. Today, consumer payments have become associated with a range of new technologies and, with a number of new consumer payment options starting to establish themselves, the size of the market share that card payments enjoy is going to be under threat. A key piece of the business case for deploying EMV is the cost savings from prevented fraud on in-store transactions, so there is a clear tipping-point where the business case for protecting card-present transactions against fraud with an expensive EMV deployment no longer stacks up if card transaction volumes drop significantly. If card payments were to remain relatively insecure (without wide-spread adoption of EMV) compared to, say, mobile payments, the US market could end up taking a different path. Moving away from cards altogether is unlikely given the need to retain a level of compatibility with the rest of the world, but there is nothing to say that EMV will ever be broadly adopted in the US should the trend of new payment technologies and services continue to accelerate at the rate we have seen over the last five years.
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