In this featured article, our CTO, Mark Medlin, shares how EMV is a necessary development that also paves the way for new innovation.
With all of the changes in payments, being able to recognize the drivers behind the trends and adoption of new technology is essential. The obvious answer is consumer preference, but that isn’t always the case.
The most significant change in the payment landscape lately is arguably the EMV mandate. While consumers were accustomed to mindlessly swiping cards at any given location, there’s now a hesitation when determining if the point of sale is EMV capable, requiring a dip rather than a swipe. The initial confusion and reeducation of this process has slowed down many transactions, causing longer lines and general frustration.