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.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry