Among merchants in the retail category, 69% of Shoe Stores and 59% of Department Stores have EMV-ready terminals. On the lower end of the spectrum, 23% of Stationery Stores and 24% of Book Stores have EMV-ready terminals.
The findings come from The Strawhecker Group (TSG).
EMV, or “Europay, MasterCard, and Visa,” is a globally accepted card standard that uses an embedded microchip to provide unique data protection when the card is inserted into a chip-card reader. Most card-accepting U.S. merchants may be liable for fraudulent transactions if they are not “EMV-ready” by October 1, 2015.
The sample was based on a minimum of 75 current credit and debit card-accepting merchants in the U.S. per retail category. In conjunction with this release, TSG has published a chart looking at 30 retail merchant types and their respective EMV-readiness: http://bit.ly/EMV-Retail. These results follow TSG’s previous research of all merchant-types that illustrated 27 percent of all merchants will be EMV-ready by October 1st.
TSG is a source of consumer spending data, industry research, benchmark studies and developing trends.
For data, background and forecasts on EMV: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).