There’s recently been a lot of talk about EMV in the U.S. When will it be viable? Will merchants make the change? One of the least discussed, but just as important is “how do we get people to start using it,” according to MobileWaytoPay.com.
The comfort level of users will play a major role in how this switch over to EMV pans out. Unlike magstripe transactions where cardholders swipe their card and put it back in their pocket, an EMV contact transaction requires that the card remain inside the reader for the duration of the transaction. There’s also the requirement for cardholders to actually learn their PIN.
The question then comes, how do we retrain people on using their credit and debit cards once EMV? This responsibility lie in the hands of all parties involved – issuers, hardware vendors and merchants. It is up to them to make the migration as painless as possible, for everyone.
When the UK decided to mandate the move to an EMV infrastructure, they built an entire awareness campaign around the simple statement: “I ♥ PIN.” They even designated February 14, 2006 as “PIN Day,” also the date at which point all card-accepting merchants had to be capable of accepting EMV transactions.
The UK has is now experiencing a 92% chip and PIN card deployment base and a 24 percent reduction in card fraud.
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