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30% of Terminals Equipped to Use EMV Credit Cards
- Pymnts, Tuesday, September 9, 2014 11:05 AM
Most of the largest retailers have moved to EMV-based systems, but smaller businesses are well behind. And of those that have embraced the chip card standard, most also are including Near Field Communication chips in the terminals, executives at terminal manufacturer VeriFone Systems Inc. noted during a fiscal third quarter earnings call with analysts Sept. 4. The question is, are the EMV or NFC functions activated? In all likelihood, they’re not. “Most Tier 1 retailers already have EMV in place,” VeriFone CEO Paul Galant said “It’s really about turning the system on as opposed to putting in terminals.”
