In the 1970s, Saturday Night Live had a cast of comedians that were called the “Not Ready for Prime Time Players”. In 2015, U.S. retailers have a cast of customers that could be called the “Not Ready for EMV Payers.”
The Food Marketing Institute (FMI) is reportedly asking major credit card companies to postpone the October 2015 deadline for U.S. retailers to comply with the Europay, Mastercard Visa (EMV) chip-based payment card standard.
More than 200 retail and technology professionals surveyed on show floor at the recent National Retail Federation convention offered a mix of disturbing and enlightening thoughts on the state of EMV readiness, omnichannel investments and mobile wallet winners.
Recently, I was out shopping with my children and we saw a pay phone bolted to the wall near the checkout line of a store. It didn’t appear to be operational, but there it stood. “What’s that?” my 11-year-old daughter asked.
“Ongoing investigation.” “Forensics and law enforcement continue to investigate.” For now, it is a bit too early to write the “Lessons Learned” piece about the Target/Neiman Marcus/Michaels data breach incident. But there are a few things that were known before these latest payment card/database breaches occurred and should be put into context in light of what we are currently investigating.
PCI Security Standards Council has appointed representatives from retail merchants such as Walmart, Woolworths Limited and Starbucks, as well as from the Retail Solution Providers Association, to its board of advisors.