New research from Mercator Advisory Group provides a realistic timeline for
U.S. conversion to EMV payments
Boston, MA - February 19, 2013 -- In the spring of 2011, Visa issued a
road map for the U.S. adoption of a smartcard-based payments ecosystem. Since
then, the other three major U.S. payments networks have followed suit. These
road maps provide milestones for merchants, acquirers, and processors, along
with dates on which these milestones are expected to be met. In theory, the
road maps should serve as a reasonable expectation for when the U.S. will
fully adopt EMV, but judging by past experience, that likely won't be the case.
Mercator Advisory Group's new research report, U.S. EMV Timeline Beyond the
Road Maps: How Long Will Conversion Really Take? explains the motivation
for the U.S. to adopt EMV at this time and clarifies the card networks' road
maps for U.S. EMV adoption. The report considers previous experiences (both
with road maps other regions used for EMV adoption and road maps the U.S. used
for other changes in its payment environment) to forecast a more realistic
schedule for the U.S. conversion to EMV.
"The roadmaps laid out by the networks intend to convert the U.S. payments
ecosystem to EMV by 2015, four years after the first road map was developed,"
says Dave Kaminsky, senior analyst in Mercator Advisory Group's Emerging
Technologies Advisory Service and author of the report. "Judging by the
experience of other countries in trying to implement EMV, as well as the
experience of the networks' previous attempts to influence changes among U.S.
merchants, that timeframe likely will not be met."
Highlights of the report include:
- Analysis of why the U.S. did not convert to EMV when many European
countries did and why the U.S. is currently motivated to adopt EMV
- Detailed breakdown of the current road map, including explanations of all
major milestones, deadlines each network has set for each milestone, and
penalties for noncompliance
- Forecast of U.S. EMV conversion based on the networks' timeline and the
actual adherence of merchants, financial institutions, payments service
providers, and consumers to previous timelines in the U.S. and abroad
One of the 9 exhibits included in this report:
This report is 24 pages long with nine exhibits.
Companies mentioned in the report include: Visa, MasterCard, Discover,
American Express, Europay, EMVco, and JCB.
Table of Contents
Why the U.S. Is Adopting EMV
- A Brief History of EMV
- The Status of EMV Today
- Why the U.S. Is Converting to EMV Now
U.S. EMV Conversion Road Maps: An Overview
- POS System Conversion
- ATM Conversion
How Closely Will These Road Maps Be Followed?
- Other Countries' (and Regions') Experience with EMV Conversion
- Other U.S. Mandates and Road Maps
What Do Past Experiences Predict for the U.S. EMV Conversion?
- Copyright Notice
- For more information about this report, please contact:
- End Notes
U.S. EMV Timeline Beyond the Road Maps: How Long Will Conversion Really Take? published by Mercator Advisory Group, Inc. in February 20, 2013. This report consists of 24 Pages and the price starts from US $ 2950.