Thousands of U.S. merchants are still holding out against EMV because they see no immediate threat from counterfeit card fraud, and business goes on. But a less obvious change in payment card acceptance may finally force them to upgrade.
The scenario where someone uses a check's "float" to purchase something before they have the funds is still more common than many people think, according to the founders of Float, a startup that sends emergency "credit" to a consumer's debit card.
Now that the second holiday season has passed since the U.S. deadline for EMV migration, acquirers are taking stock of the damages that merchants incurred this year to determine the effect of the new technology.
U.K. supermarket giant Tesco has long supported Apple Pay at its contactless-enabled checkout locations, and now it also supports mobile payments through a proprietary app it’s rolled out to its nearly 7,000 stores.