As businesses across the country move to adapt to EMV cards, some owners may be wondering why, in fact, the card-based approach took so long to take hold compared to others around the world. Slate recently reported on this trend and noted the pattern that preceded the recent change.
Although stripe-based cards have dominated payments in the U.S., the source said that the country was confident in its payment predictions during the 1990s, when the chips started appearing in Europe. As a result, the cards were not adopted the same way, and placing the transition date right before the busy holiday season last October may also have contributed.
Another key distinction the article mentioned is the difference between chip and pin and chip and signature payments. The latter has taken hold more in the U.S., even though the former is more popular globally, supposedly because it brings less of a burden to users.
While all of this helps to understand the current situation, companies still need to prepare for the best service for their customers. Since slow payment transactions have been an issue, the ideal solution will deliver credit card payment processor functions quickly.
However, the security often linked to chip and pin can still be an important factor. Instructing customers to swipe their cards instead of using their chip could leave owners liable for chargeback payments, a persistent concern with the transition. With so much potentially at stake, store owners are best served by finding a trustworthy card processing server from an experienced provider.
Contact 911 Software to learn more about our PriceLine option for POS systems. Maintaining a smart, data-centric solution will give businesses more means to address customer concerns.