The tide turned sharply this year for the U.S. payments card industry’s EMV migration, changing from a holding pattern to serious action plans.
When U.S. payments networks in 2012 announced EMV liability shifts going into effect in October 2015 – to encourage chip card adoption – many issuers and merchants were circumspect about their plans. The expenses and technical requirements to convert millions of cards and terminals to EMV from magnetic stripe technology looked daunting for businesses clawing out of a recession.
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