As the EMV migration is in full swing across the United States, contactless and mobile payment opportunities continue to grow, too. The wider availability of mobile payments like Apple Pay and SoftCard is driving this popularity as well. When contactless payment programs like these incorporate the security of EMV through the use of a secure element, consumers can rest assured that contactless payments are even more secure than traditional, magnetic-stripe cards.
With the varying opinions, it’s clear that EMV migration and contactless payments will be hot topics at the Smart Card Alliance Payments Summit next week in Salt Lake City. As attendees, we’ll discuss the affects of these on the customer experience and financial institution readiness.
While everyone agrees that EMV and mobile payments are poised to take off, it’s the expected rate of the migration to EMV that seems to vary according to analysts and industry associations. There seems to be an 11-12 percent difference, depending on where you look. For instance, the Payments Security Task Force expects 47 percent of U.S. merchant terminals to be EMV-enabled by 2016, while the EMV Migration Forum projects the number of U.S. merchant POS devices to be about 58 percent. Meanwhile, the Merchant Advisory group has the lowest projection at about 35 percent.
Gemalto will be at the Summit engaging in these discussions. If you’re attending, visit us at table #201 and don’t miss the following panels Gemalto will be participating in:
- Jack Jania will speak about the fraud liability shift and what the shift means for card issuers and merchants and touch on major milestones and what we can expect in the next few months on Tuesday, February 3 at 11 a.m.
- Philippe Benitez will discuss in-device security for buyer authentication on Thursday, February 5 at 1 p.m.
- Karrie MacDonald will moderate a panel about ways current trends in secure chip Technology are shaping the future of payments at 2 p.m.