Discover Financial Services was operating from a “luxurious position,” as one industry analyst describes it, when it came to revealing a timetable and requirements for acquirers and direct-connect merchants to accept EMV smartcard payments in the United States.

The luxury viewpoint comes into play because Riverwoods, Ill.-based Discover, as a private network, did not have to commit to any specifics regarding chip card standards until after Visa Inc. and MasterCard Worldwide established some ground rules.

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