While it’s true that EMV is smoothly running at the majority of Big Box retailers, the U.S. market has another 5 million devices to light up at small business locations.
Industry experts are increasingly focused on four pinch points that seem to account for much of the SMB holdup.
- Certifications remain a bottleneck. Certs are necessary to eliminate air gaps in transaction security, but the task is extra challenging in the United States. The sheer number of technology providers seeking certifications and the complexity of many transaction paths make it a hard job.
- Transaction speed is another hindrance. The quick service restaurant category, in particular, has held off on EMV as a result of the slowness. While card brands and processors have pushed Quick Chip, too few providers have brought it to market.
- EMV integrations are too hard for POS systems providers. In the mag stripe era POS systems performed “integrated payments” whereby clear text card data was collected through simple swipe readers and transactions were formatted inside an everyday PC. All of that turned out to be a huge security risk. As a consequence, POS providers are swamped with a mountain of uncompensated PCI and EMV work.
- A fourth and less well known hang-up has to do with device management. Security requires updating systems against threats. In EMV this is done by downloading new software into card readers. Payment processors and device makers are working to automate the process, but progress is slow. It’s particularly challenging with USB card readers and those that use middleware. Such configurations depend on merchant PCs and iPads to effect downloads, which can be problematic.
RevChip is rich software for Ingenico and Verifone devices. It is written and maintained by EMV experts and solves problems faced in the U.S. market.
EMV need not be a huge expense or a technology hassle. Merchants should be able to preserve their POS marketing programs and implement Quick Chip and Apple Pay in just a few days. If you agree, check out RevChip.