Why Now Is The Right Time To Make EMV Sales
About two years ago, I recall a meeting at our offices where one Business Solutions team member was full of conviction that we needed to create an educational guide to EMV. At the time, EMV was just barely on the radar of payments companies after the card brands announced migration plans for the United States. We surveyed our readers (both VARs and software developers) and found that creating an EMV guide at that time would be premature. Thankfully, the survey results showed that we didn’t have to twiddle our thumbs waiting for EMV to gain momentum. Our audience still wanted information on EMV and payments security in general.
As the first and leading magazine to cover the intersection of POS and payment processing, we’ve made it our editorial mission over the years to educate our readers on the opportunities, challenges, and even threats associated with integrated payments. More recently, we’ve ramped up EMV coverage and articles on other payments-related technologies like loyalty and mobile payments. At the same time all this was going on, the October 2015 liability shift associated with EMV loomed closer. In the past, card issuers were liable for fraudulent transactions. After the liability shift, the merchant will be held liable if its POS system doesn’t support EMV.
While planning our 2014 editorial calendars, we realized that we would be one year away from the liability shift (assuming the deadline doesn’t get pushed out) in October. We also started hearing more about the EMV deadline from VARs and ISVs. It immediately became clear that now was the right time to create the guide you hold in your hands.
The liability shift is now about a year away, and there’s never been a better time to offer EMV-related hardware and software updates and security-related services. And yet, despite this impending deadline, there’s still a lot of confusion and misinformation concerning EMV, which has muddied the waters and led some merchants, VARs, and software developers to become immobilized. This guide is our attempt to add clarity to the situation and inspire you to take action.
As you’ll read, we’ve included articles for both VARs and ISVs to address the unique challenges both groups have. We leaned on the expertise of about two dozen industry dignitaries to give you the most accurate and actionable information we could.
Is this guide complete? Perfect? I wish. The sad truth is, despite it truly being the time for VARs and ISVs to take action, there still are some unknowns that we just couldn’t address. Don’t let the unknowns about EMV prevent you from moving forward. EMV is about security and reducing fraud. With big breaches in the news and the liability shift coming, you’ve got a handful of compelling talking points to bring to your customers. Minimally, you can strengthen your trusted advisor status. More likely, you’ll win a sale.