The EMV tipping point

The latest figures from the Australian Payments Clearing Association hold no surprises for the seasoned EMV advocate. As we’ve seen with other EMV-compliant countries, such as the UK and Canada, the roll out of chip technology has significantly reduced the number of skimming attacks.

While it is the reduction in card-present fraud that makes the headlines in terms of EMV adoption, there are also a number of other important benefits that can sometimes be overlooked.  Namely, EMV is encouraging a much-needed technology refresh in the ATM landscape of many countries. This new technology is improving service levels and reliability and allowing banks to roll out cutting edge ATM services as well as greater personalisation for customers. As banks look to build better relationships with their customers, these factors should not be underestimated. In fact, they could act as the tipping point for encouraging those countries where fraud is not seen as a big issue, such as the US and parts of the Middle East, to finally make the move to EMV.