The Payment Industry's Perspective On EMV

By Business Solutions magazine

Where Does EMV Fall Short?
“EMV is designed to authenticate the validity of the payment card presented at each POS, which it does very well, so there really are no shortcomings. It can do it offline and online; it’s very versatile and very configurable. Critics say it doesn’t do anything for e-commerce, but that’s because EMV isn’t designed for e-commerce. It’s specifically designed for a cardpresent transaction. The e-commerce environment has different needs, and there are various solutions available to mitigate fraud losses in that environment.” — Allen Friedman, director of payment solutions, Ingenico Group

“EMV represents the backbone for future payment technologies. It offers more rigorous security than mag-stripe cards. But for optimum merchant and consumer protection, it should be augmented with extra security measures, such as end-to-end encryption.” — Michael English, executive director, product development, Heartland Payment Systems