About 650% more retailers will support EMV (Europay, MasterCard and Visa) by October 2015. A new survey suggests while EMV is getting lots of attention,it’s not the Holy Grail in the defense against credit card hackers.
The top IT priority for retailers in 2015 is focused on improving payment security, and protecting the confidentiality of sensitive information.
According to a survey released by Boston Retail Partners, for the first time in 16 years, more than 63% of the retail respondents in the BRP 2015 POS/Customer Engagement Benchmarking Survey indicated that payment security is among their top three priorities for 2015.
Recent data breaches at several top retailers, high profile hacking plus the looming October 2015 deadline shifting credit card liability back to the retailer for those not compliant with EMV policies seem to be likely causes.
While only 8% of retailers have implemented a single commerce platform, more than half of the retailers indicated they will have a single commerce platform implemented within the next 4 years
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For more data on EMV access CardData®. For information and commentary on EMV visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAMResearch® forecasts on EMV are a