The Switch To EMV Payment Cards Is A Big Opportunity For Payment Tech Companies

In the U.S., most consumers and merchants will soon need to switch over to the ‘chip card’ standard, otherwise known as EMV. It’s a technology, most recognisable as a chip on payment cards, which is designed to make card transactions much more secure.

In Europe and other parts of the world where EMV has been the standard for years, there is much less payment card fraud than in the U.S.

As merchants move away from their current technology, there’s a big opportunity for payment technology and service providers to grab market share. The EMV switch will hasten the normal terminal upgrade cycle in some segments, allowing businesses to go after new clients.

In a recent report from BI Intelligence, we look at what the EMV standard is, how much it will cost to implement, whether or not the upgrade will ultimately be worth its cost, and who will be the winners and losers in the change over.

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Here are some of the key takeaways from the report:

In full, the report:

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