The Rollout Of Credit Cards With Embedded Microchips Will Be Costly, But It's Also A Huge Business Opportunity

Credit cards and debit cards with embedded microchips are coming to the U.S., and they will change virtually everything about the massive domestic payment card industry.

The new cards mean hundreds of thousands if not millions of merchants and retail banks will soon have to change their register and terminal systems. The back-end business of credit card-processing will also need a big overhaul. It’s an $US11 billion opportunity for providers of payments tech and services.

In a new report from BI Intelligence, we look at why the big credit card networks, Visa and MasterCard, are pushing for the new cards, also known as chip cards, or EMV cards. We look at the security and fraud-mitigation benefits of the new cards, and the possible pitfalls for e-commerce. We also forecast the spending that will be needed to complete the transition, and provide a clear timetable for the different stages in the migration to EMV.

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In full, the report:

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