The Slow Adoption of the EMV Chip

The Slow Adoption of the EMV Chip

  • By Sydny Shepard
  • Mar 29, 2016

The adoption of EMV chipped credit and debit cards was a big deal… until it wasn’t anymore.

Based on CardHub’s 2016 EMV Adoption Survey, retailers have made it their mission to put off the change in payment terminals for as long as possible and it seems that customers really don’t care if they do or if they don’t.

While retailers and customers are lagging on the adoption process, financial institutions have done what they can to make the cards more secure. The October 1, 2015 deadline, set by Visa and MasterCard for the transition away from magnetic-stripe card security, was met by the majority of banks and financial institutions while, six months later, 42 percent of retailers still haven’t changed over their payment methods. And of the retailers that saw a data breach in recent history, only 43 percent of them have updated their terminals.

It seems that the retailers are slow to move because the customers really don’t care, and at times, show favor for the magnetic stripe version of payment. 56 percent of people don’t care if a retailer’s payment terminal is chip-enabled and another 41 percent don’t even know if their current card has a smart-chip in it. Of all those people, only 38 percent understand why the chip is even necessary to secure their financial data.

Perhaps the most overwhelming finding in the survey is that 41 percent of people falsely believe that their debit cards protect them from fraud better than credit cards.

In the detailed findings of the survey, CardHub found that WalMart, Target, The Home Depot, Walgreens, CVS, Best Buy, Macy’s, Rite Aid, Gap and more have adopted the EMV chip-enabled payment machines while stores like Alberstons, Pizza Hut, J.C. Penny, Bed Bath & Beyond, Family Dollar and Staples haven’t changed not one of their payment terminals.

Some stores like, Jimmy John’s and Dairy Queen are at a high percentage of chip-enabled terminals, but have not yet placed the new devices in all their stores.

About the Author

Sydny Shepard is the Executive Editor of Campus Security & Life Safety.

Featured

  • Security Industry Association Announces the 2026 Security Megatrends

    The Security Industry Association (SIA) has identified and forecasted the 2026 Security Megatrends, which form the basis of SIA’s signature annual Security Megatrends report defining the top 10 factors influencing both near- and long-term change in the global security industry. Read Now

  • The Future of Access Control: Cloud-Based Solutions for Safer Workplaces

    Access controls have revolutionized the way we protect our people, assets and operations. Gone are the days of cumbersome keychains and the security liabilities they introduced, but it’s a mistake to think that their evolution has reached its peak. Read Now

  • A Look at AI

    Large language models (LLMs) have taken the world by storm. Within months of OpenAI launching its AI chatbot, ChatGPT, it amassed more than 100 million users, making it the fastest-growing consumer application in history. Read Now

  • First, Do No Harm: Responsibly Applying Artificial Intelligence

    It was 2022 when early LLMs (Large Language Models) brought the term “AI” into mainstream public consciousness and since then, we’ve seen security corporations and integrators attempt to develop their solutions and sales pitches around the biggest tech boom of the 21st century. However, not all “artificial intelligence” is equally suitable for security applications, and it’s essential for end users to remain vigilant in understanding how their solutions are utilizing AI. Read Now

  • Improve Incident Response With Intelligent Cloud Video Surveillance

    Video surveillance is a vital part of business security, helping institutions protect against everyday threats for increased employee, customer, and student safety. However, many outdated surveillance solutions lack the ability to offer immediate insights into critical incidents. This slows down investigations and limits how effectively teams can respond to situations, creating greater risks for the organization. Read Now

Most   Popular

New Products

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening.

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions.

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area.