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Many SMBs struggling to roll out chip-and-pin terchnology in-store

Many SMBs seem reluctant to believe they will be able to meet an October 2015 deadline to roll out EMV technology, as questions and concerns linger

Michael Hatamoto | Dec 10, 2014 at 5:19 pm CST (0 mins, 56 secs time to read)

The United States is increasing its shift towards chip-and-PIN technology to meet an October 2015 deadline, but the transition has been far from easy for many businesses. It turns out 69 percent of SMBs doubt they will be able to meet the late 2015 deadline, with confusion about the technology. In fact, 26 percent of survey respondents from SMBs couldn't identify what an EMV (Europay, MasterCard and Visa) terminal is, according to Software Advice report.

Many SMBs struggling to roll out chip-and-pin terchnology in-store | TweakTown.com

The EMV technology also will prove to be rather confusing for consumers, as 88 percent of US consumers have never made a purchase at an EMV terminal.

"EMV technology is coming to the U.S., but it won't be a smooth transition," said Daniel Humphries, Software Advice IT security researcher, in a statement. "Large firms may be aware of the liability shift and what it requires, but our data shows that only a small percentage of SMBs are prepared. However, there is still plenty of time for SMBs to prepare for the chip-and-pin changeover, and take matters into their own hands. This even represents a golden opportunity for merchants to make their businesses more secure from fraud."

Last updated: Apr 6, 2020 at 08:47 pm CDT

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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