If you attended Payment Systems Update in 2015, we talked about the dates for liability shift and when the different areas were supposed to be ready. I like to try out new technology, it helps me be better able to explain it if I have actually used it. A few months ago, I was in a big box retailer to get a new “mug shot”, I mean professional picture, taken. I saw the EMV reader and had a credit card that had Chip and Pin technology. I tried to use my new EMV card but for whatever reason it wasn’t working. The cashier told me he had no idea how it worked. A few days ago I was at the same retailer and thought I would try my luck again at using EMV. I tried to act like I knew what I was doing by putting my credit card in the slot at the bottom of the machine and still no read. The cashier looked at me like I was crazy and said “just swipe the card”.
I think we can all agree we need to improve the security of our card transactions, but at what point does it come down to training? The training at the financial institution to know what to look for with fraudulent activity. Training at the merchant level to explain how the new technology works to the cashier or customer service person. Training to the consumer on how to use the new machines and the benefits of the technology.
To EMV or Not to EMV…I will keep trying!