12 innovators on what's next in 2015

NFC. HCE. EMV. “B4B” payments. What will be the next payments trend or fad? To get their perspectives on this year and predictions on next, PYMNTS talked to 12 innovators on what has most impacted their business in 2014, and what will and won’t be dominating payments conversations in 2015.


EMV Chip Technology Is the Future of U.S. Payments: Get the Facts in New EMV Migration Forum Infographic

The new year will bring a new way to pay in-store for many U.S. consumers, with 600 millioni new EMV chip cards expected to reach their wallets and increasing acceptance of the cards at retail stores.


What are the key dates in the Discover roadmap to EMV in the U.S.?

Discover has only announced one key dates for EMV in the U.S.:

  • April 1, 2013 – Payment acquirer processors were required to be ready to support chip transactions in their systems 

Discover has said they “will support all card authentication channels (online and offline), all cardholder verification methods (including both chip and PIN or chip and signature transactions), and all commerce channels (contact and contactless, including mobile).”

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How will using EMV cards be different than using a magnetic stripe card?

Consumers’ personal, business and financial details will be more secure and protected with EMV. In addition, the look of the card as well as the payment experience at the physical point-of-sale (POS) will change. 

When issued an EMV chip card, there will be an image of a small chip on the card. While the U.S. is still transitioning to chip cards, the card will probably still contain a magnetic stripe as well. 


What questions should U.S. card issuers answer before issuing EMV chip cards?

Before starting EMV issuance, card issuers should familiarize themselves with the key dates for the U.S. move to EMV. Investing in EMV technology sooner rather than later will free them from being responsible for fraud losses. 

Beyond that, as an issuer, you have many EMV implementation options and can choose what fits best into your business and best meets your needs. Some of the most basic questions to answer are: 


What are the key dates for the U.S. move to EMV chip cards?

The four major payment brands in the U.S. – American Express, Discover, MasterCard and Visa – have all outlined roadmaps for the U.S. move to EMV chip cards. While the roadmaps differ, they all have one mandate in common, which passed on April 1, 2013. This was the requirement for payment acquirer processors to be ready to support chip transactions in their systems. This is an important step to ensure the U.S. payment infrastructure is ready to handle new dynamic transaction data generated for every EMV chip transaction.



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