One of the biggest concerns for the retail industry is keeping credit card payments safe and secure for customers and the business itself. This has lead to the growing push for U.S. card providers to adopt the EMV (Europay, Mastercard and Visa) standard which processes a transaction using the microchip. There are plans in place for widespread adoption to take effect over the next several years, but a court decision could change all that.

According to an article from Bank Info Security, the U.S. District Court for the District of Columbia ruled on July 31 to shoot down the Fed's plan for a 1-cent per-transaction incentive for investments in fraud prevention. The concern is that it will lead to a delay in EMV adoption.

John Buzzard, the head of FICO's Card Alert Service, said it will change issuers' decision making ideas as many had just begun to understand the incentive program.

"Now things are going to be presumably modified, again, to please a different audience of constituents," Buzzard says. "I really hope we see some sort of compromise here that better serves card issuers and retailers. It's possible that financial institutions will be reluctant to take on EMV card issuance if fee income drops and card replacement expenses jump. No one is resting easy on this information. How do you replace millions of dollars in lost income overnight?"

This is not the end of EMV and adoption is still likely to take place over the next several years. Merchants will need to make sure they have the right payment processing software to handle any kind of electronic payment at the point of sale terminal.