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Education

StreetSmarts SM

Steve Feldshuh

“Talk To Steve”

MIA in EMV compliance: Card brands

By Steven Feldshuh had to explain the reason for my new chip card, but Chase
President of Merchants' Choice Payment Solutions East isn't Visa or Mastercard.
f I were to write an article on how the major So the questions become: Why isn't Visa insisting
card brands Visa, Mastercard, Discover Financial consumers be told to make sure they use their cards only
Services and American Express Co. are educating at EMV-capable merchants? Why isn't Mastercard telling
I cardholders and merchants about EMV (Europay, merchants it is of the utmost importance that they insure
Mastercard and Visa), it would be very short. The reason? the integrity of their customers' chip cards by using EMV
They are missing in action. Sure, some of their websites capable systems that are programmed to properly accept
contain general information on EMV. But are they spend- EMV cards?
ing any advertising dollars to convey the importance of
EMV to cardholders and merchants? Where are we almost two years after the EMV liability
shift deadline for most merchant verticals came and went?
From what I see, Visa and Mastercard spend an enormous While on a family vacation in Charleston, S.C., I decided
amount of money preaching the benefits and the amazing to see who accepted EMV cards and who didn't. I basically
rewards attached to their credit cards. They budget found the same results to be true in Charleston as I did in
multiple millions of dollars to promote Mastercard's New York, where I live and work.
"priceless" qualities and Visa's constantly changing
messaging regarding its cards. Yes, much is at stake here My research while on vacation wasn't scientific, of course,
for these publicly traded companies to grab market share. but I also checked with a terrific reference on these things:
But when Visa and Mastercard make $4 billion and $1 Tim McWeeney. He validated my findings that hotels,
billion in profits, respectively, in one quarter, shouldn't restaurants and lots of larger retailers still haven't been
they be putting some of that money to work for the benefit moved over to EMV technology.
and security of the businesses that makes them tick?
The hotel we stayed at, The Meeting Street Inn, still
Hunting for an ad on EMV swiped cards. When I asked the hotel manager why
the establishment couldn't process my chip-based card
I have been hunting for an ad on the importance of properly, he blamed his POS company for not providing a
merchants insuring that their customers are able to solution. Not being EMV compliant seems to be the case
process their chip-based cards correctly. I have yet to with most motels and hotels that are using POS systems.
see one. I also have seen no ads warning cardholders to A few blocks away, I asked the server at Hank's Seafood
shop only with merchants who have updated their card Restaurant the same question I'd asked at the hotel. She
acceptance with EMV capabilities. brought over the manager. He said it was too expensive to
upgrade to EMV, but his restaurant group was looking at
Yes, I have to say I did receive a statement stuffer on doing pay at the table, and no decisions had been made.
EMV with my latest Chase card, but, no, it wasn't very Again, from what I have seen and read, most sit-down
convincing. It was just Chase preaching about how it was restaurants are still swiping cards.
going to protect me. As my card issuer, Chase obviously

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