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The head of NAFCU slammed a recently-proposed delay in the deadline for the Europay, MasterCard and Visa EMV liability shift, but one outspoken credit union executive said a delay may actually be good for some credit unions.

In a March 23 letter to American Express, Discover, MasterCard and Visa, the Food Marketing Institute (FMI), which represents about 40,000 grocery stores and 25,000 pharmacies, said delays in card networks’ release of specifications for card processing software and reports of 16-week-long waiting lists for EMV-capable payment terminals make the October 2015 deadline virtually impossible for grocery stores to meet.

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Tina Orem

 

Credit Union Times

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