Experts estimate fewer than 50% of card-issuing credit unions will have EMV-equipped credit and debit cards ready by October 2015.
This Opinion piece looks at EMV as the best place for credit unions to make the move into EMV technology.
A Sept. 11, 2013, story in Credit Union Times (Small Business Owners’ Plea to Credit Unions: Earn My Business) reported on a focus group of small business owners, who generally concluded that credit unions are having a hard time serving their needs compared to banks.
Converting the nation’s millions of cards, processing terminals and banking systems to EMV may take as long as a decade or more.
Change is in the cards, literally. Europay, MasterCard and Visa technology is coming to the United States and bringing with it a host of benefits for cardholders and issuers, including enhanced security and international compatibility.