• Let's Talk Payments, Thursday, June 11, 2015 12:30 PM

The payments landscape in the US is changing rapidly as contactless payments gather steam. Moreover, EMV adoption in the US is also growing at a phenomenal pace before the liability shift of October, 2015. The major data breach that happened last year at Neiman Marcus, Target, Sally Beauty, Michaels and The Home Depot is also propelling EMV adoption. The shift from conventional POS to EMV will have a huge impact on POS terminal manufacturers. The shift to EMV had been slow till 2013 but has gained momentum in the last year. With only a few months to go before retailers hit a major deadline for upgrading their credit card machines at the checkout counter, the research team of GrowthPraxis feels that many merchants will not complete the switch in time. In the US, there are more than 33 million merchant establishments (single business location of a company which is engaged in a single activity); a major portion of these merchants are viewed as vulnerable to miss the October, 2015 deadline. It seems that micro merchants will be taking at least two more years to reach the halfway mark in terms of adoption.

Read the whole story at Let's Talk Payments »