Elavon Exec: Beyond Bleak Chip-Prep Numbers, 20% of Some Merchants’ Transactions Already Are EMV
Most U.S. merchants won’t be ready to process chip cards by the Oct. 1 EMV liability shift, but the somewhat alarming numbers don’t tell the whole story, according to card processing industry veteran Ian Drysdale, executive vice president of sales and business development, North America, for U.S. Bank’s Elavon. EMV already accounts for as many as 20 percent of transactions for some merchants, and momentum is shifting fast.