Advocates Look to EMV Fuel Pumps And Contactless Cards for Advances in Payments Tech
The U.S. Payments Forum on Monday reported that the vast majority of large U.S. merchants now accept EMV chip cards. With the conversion to chip from the old magnetic-stripe payment technology at the point of sale now over the hump, though still far from complete, advocates are looking at fuel pumps and contactless cards as the next payment frontiers to be crossed.
The Forum, an affiliate of the Princeton Junction, N.J.-based Secure Technology Alliance trade group, says in a report that 96% of the top 200 U.S. merchants take chip cards. A year ago, only about one-third of merchants did so, the group says.