Regional sites:
Specialized sites:
The first step toward implementing EMV cards in the U.S. is to focus on the
top-of-wallet for bank customers who travel internationally. Issuing dual
interface EMV-compliant cards to these high-value clients immediately gives them
three important security and convenience advantages - a hassle free payment card
they can use in any country that has migrated to chip and PIN, an added level of
security if they lose their card overseas and the convenience of contactless
payment.
For issuers, these cards help to recapture the lost transactional revenue and provide a differentiated card offer for international travelers.
The second step is to use EMV to strengthen online payment security, which would have several advantages. This would require much less of an investment by sidestepping the costs, complexity and time required to upgrade the merchant terminal infrastructure. The issuers and acquirers themselves could easily manage the steps needed for migration. Web merchants would be likely participants, as they are bearing the brunt of the loss exposure today. It could have a much more immediate payback and address the fast growing online fraud problem. Finally, it would also make consumers and merchants feel much more confident in online purchases.
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