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

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • Mobile Safe Shield

    Mobile Safe Shield

    SafeWood Designs, Inc., a manufacturer of patented bullet resistant products, is excited to announce the launch of the Mobile Safe Shield. The Mobile Safe Shield is a moveable bullet resistant shield that provides protection in the event of an assailant and supplies cover in the event of an active shooter. With a heavy-duty steel frame, quality castor wheels, and bullet resistant core, the Mobile Safe Shield is a perfect addition to any guard station, security desks, courthouses, police stations, schools, office spaces and more. The Mobile Safe Shield is incredibly customizable. Bullet resistant materials are available in UL 752 Levels 1 through 8 and include glass, white board, tack board, veneer, and plastic laminate. Flexibility in bullet resistant materials allows for the Mobile Safe Shield to blend more with current interior décor for a seamless design aesthetic. Optional custom paint colors are also available for the steel frame.

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation.