by: Bobby Koscheski

EMV will require new payment processes that, while seemingly small to those instituting the change, require a shift in behavior that could feel monumental to consumers.

While we won’t see a government-funded advertising campaign in the U.S. in support of the EMV rollout, merchants and banks can drive adoption and mitigate the impact by communicating with employees and customers now about the change. Such efforts should include:

Timing – when the change will occur

Card Design – what changes cardholders should expect with CHIP-enabled cards

Behavior – how the purchase process will change, specifically what consumers will do differently at the point of sale with the new cards and terminals

Security – why the change is taking place: to protect customers’ personal financial information and identity

When EMV rolls out this fall in the U.S., consumers will insert their cards into payment terminals that will hold on to new chip-enabled cards until the transaction is finished processing. Some retailers may also require consumers to enter their PIN to complete the transaction depending on whether or not the issuing bank of the card has made PIN a requirement (it appears most are initially requiring chip and signature vs. chip and PIN).

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