How Long Will It Take? EMV and NFC Reterminalization in the United States
Report Summary
How Long Will It Take? EMV and NFC Reterminalization in the United States
In Preparation For U.S. EMV And NFC, The Nationwide Reterminalization Effort Is Well Underway, But The Terminal Change-Out Is Only The Beginning.
Boston, July 11, 2013 - The U.S. payments ecosystem is on the brink of discarding its more than 30-year-old magnetic stripe payment card technology to replace it with a 17-year-old chip-card technology. Terminal manufacturers, merchant acquirers and POS technology providers are lining up in support of the payment networks' EMV mandates, expecting to generate billions in new revenue from the change. But when will this roll out? What are the key challenges? And what should payments players be planning for the transition?
This report is based on Aite Group interviews with 22 U.S. merchant acquiring organizations and 48 POS technology providers as well as a quantitative survey of 491 small to midsize merchants. Written by senior analyst Rick Oglesby, the piece examines the trajectory of U.S. reterminalization, evaluates the efforts and sentiments of key players across the payments acceptance ecosystem, provides annual estimates of the expected U.S. reterminalization effort, and recommends key areas of focus for payments players during the transition.
This report is the second in a two-part series about the arrival of EMV in the United States; find the first here.
This 32-page Impact Report contains 22 figures. Clients of Aite Group's Retail Banking service can download the report.