White papers

Six Myths Preventing EMV Migration in the United States

EMV is a sophisticated fraud fighting technology that has already replaced magnetic stripe cards in 60 countries worldwide. The U.S. is the only member of the G20 not to have adopted EMV.

This industry white paper considers the current U.S. card payments industry and demonstrates how the $6.8 billion of annual U.S. fraud caused by magnetic stripe cards more than justifies investment in EMV.

The six most commonly cited “reasons” for the U.S. failing to embrace EMV are exposed as myths created by inaccurate media reporting and a lack of underlying EMV knowledge. Each individual myth is systematically debased by identifying the causes and by separating the effects from the symptoms, supported by industry statistics and financials as needed.

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