Magazine Article | June 17, 2014

VARs' Guide To Payment Processing

By Business Solutions magazine

EMV: Hype Or Real Opportunity?

Don’t Miss The Boat — “EMV is big. It will be one of those things that if you turn your back to it for too long, you could lose your advantage. With companies like PayPal and Paydiant coming into mobile payments, all you have to do is look at how much money is being spent on not only mobile payment, but EMV preparedness.” — Andre Nataf, sr. business development manager, Digital Dining

Nugget — “EMV appears to be overhyped because it doesn’t necessarily fit how people use payment cards in the United States. The Chip & PIN flavor of EMV might be fine technically, but I question whether most cardholders in the U.S. are ready to scratch yet another PIN code in our heads, and signature is just plain smartless. I’ve read that EMV terminals would not have prevented the breach at Target, but from what I understand, E2E might have. So is E2E underhyped? Same for ‘POS-integrated payments.’ That said, the coming of EMV is an opportunity to promote POS system sales and upgrades based on the need to update existing payment technology. And while they’re working out the particulars and deadlines of EMV, provide fully integrated POS with E2E payment terminals.” — Dana Bargell, director of marketing, SBS/Keystroke