If they haven’t heard already, brick-and-mortar retailers are going to be hearing the term “EMV” a lot more in the coming months. As payment card issuers continue to roll out their newer, more secure cards containing a data-encrypting chip, merchants are feeling the pressure to upgrade their point-of-sale (POS) terminals to make sure they’re up to date with EMV technology.
As with any widespread technological update, many businesses may hear confusing or conflicting information regarding how the changes will affect them. Business News Daily spoke with security and payment industry experts to get to the bottom of five common beliefs (and misbeliefs) about EMV.
Myth 1: EMV will make credit card transactions completely safe and secure.
Verdict: False.
Dispatches From The Front 