Thank you to those who submitted responses to our EMV poll (see last week's article "Poll of the Day: EMV). As promised, here are the results of the poll, so you can see where others in the industry stand with EMV deployment as we approach the EMV Chargeback Liability Shift this October:
Question 1: Do you currently have EMV terminals deployed?
Question 2: If you answered NO to question 1, do you have plans to migrate to EMV in the next 12 months?
33.3% responded NO, they do not have plans to deploy EMV in the next 12 months. Just shy of a quarter (22.2%) of the respondents to this question responded YES that they do plan to upgrade, while 44.4% are still not sure. There are reasons many businesses do not need to upgrade to EMV at this time, and we invite you to read our article 7 Reasons NOT to Adopt EMV.
Question 3: What factors are driving your migration to EMV terminals?
The choices were Chargeback Liability, Security, Customer Demand, or Other, and respondents could choose more than one answer. It was not surprising that just 9% of those polled identified customer demand as a factor in migration. The consumer base in the US is, for the most part, unaware of EMV and what it means to them. The overwhelming response of 64% pointed to chargeback liability as a leading factor. Security was also a concern with 27% of respondents identifying this as a reason for migration.
Question 4: What factors are stopping/delaying your adoption of EMV terminals?