6 New Concerns Merchants Have About EMV

By Beatta McInerney, Business Development Manager, Payments, ScanSource POS and Barcode

As the United States makes the transition toward accepting chip cards, the merchant has plenty to be concerned about.  Since the liability is shifting to the merchant, it is they that have to adopt and implement the chip-capable hardware and software. Your merchant clients feel the burden of having to become the expert in EMV adoption and all the other things that go with it. Some concerns are easy to identify, such as costs and training. Others are not immediately thought about or are a side effect of EMV adoption.  

1. Cost. One the primary concerns to the merchant is the cost of the new equipment, software, and implementation. Larger merchants have been planning and budgeting since the mandate was announced in 2011. Because of the increase in credit card breaches, some large merchants are well on their way to being fully EMV capable and not waiting for the October 2015 deadline. Others have taken a back-seat approach waiting to see if the deadline will be extended. For those considering delaying the adoption, there is another cost they should consider. What is the liability to the merchant if they are breached and not compliant? The costs of a breach compiled with fines and loss in brand reputation can put a small to medium-sized retailer out of business with a single incident. If the hardware investment is keeping a retailer from moving to EMV, the retailer should investigate the financing options that have become popular and are available from their providers, such as leasing and Hardware-as-a-Service programs.

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