It’s been several weeks since the EMV liability shift went into effect, leaving those retailers without EMV-compliant point-of-sale systems potentially liable for fraudulent purchases made with cloned magnetic stripe cards. But despite this strong incentive to upgrade, a survey by the management consulting firm The Strawhecker Group showed that only 27% of merchants in the U.S. were expected to be able to process chip cards by the Oct. 1 deadline.


Why the reluctance? Retailers’ lag in installing EMV-compliant systems is largely driven by the expense of the upgrade. But, as a new NFC Forum white paper makes clear, becoming EMV-compliant offers more than protection against liability; it also presents an opportunity to better engage customers.

The key is NFC-enabled mobile payments. Mobile payments are on the rise; according to a forecast by eMarketer, mobile payments will triple in the U.S. in 2016. By upgrading to EMV-compliant systems that also support NFC contactless technology, merchants can attract the growing legions of mobile-savvy consumers. But supporting NFC mobile payments also provides new opportunities to deliver enhanced personalized marketing through loyalty programs and enable offer redemption integrated with the payment experience. It’s the kind of personalized experience that inspires customer loyalty — and maximizes profits.

To learn more, download the white paper, U.S. Retailers: Why You’re Not as Ready as You Think for Today’s Retail Payments Migration.


Matthew Bright is Chair, NFC Forum Retail Special Interest Group