Don’t expect to see the United States complete the transition to EMV smartcards anytime soon, a speaker said here today.
The United Kingdom, for example, took 10 years to reach 80% EMV penetration, Todd Ablowitz, president of Double Diamond Group, said during a panel discussion at the Southeast Acquirers Association annual conference.
“This is Act 1 of a 31-act play,” Ablowitz declared.
But panelists agreed that the American switch to EMV has begun and will continue. The card brands wrangled the transition in other countries and now they’re doing it here, they said.
ISO & Agent Weekly, March 5, 2012
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