EMV Technology Update 2018: EMV Classic, Faster EMV and Now QR Code EMV – ResearchAndMarkets.com

Technology Update: EMV Classic, Faster EMV, and Now QR Code EMV”

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Card networks and merchants have had an adversarial relationship over
the past 10 years. This has obstructed the deployment of more secure and
convenient payment technologies at the point of sale, including EMV
“smart cards”, mobile wallets equipped with Near Field Communication
(NFC) technology, and contactless cards.

Merchants have gone their own way on mobile wallets, preferring Quick
Response (QR) Code-based mobile wallets to the NFC-based mobile wallets
championed by the networks, banks, and mobile device manufacturers.
Online retailers, for their part, complain that EMV has merely shifted
fraud from the physical point of sale to the e-commerce site.

The research report goes into detail on how these technologies work, and
what card issuers need to do to ensure that EMV QR codes meet a
friendlier reception than other network-backed standards.

EMV got off to an extremely rough start in the United States. While
the networks were able to improve the EMV experience by streamlining the
process flow, a considerable amount of ill will built up, endangering
the reception of a technology that normally merchants would welcome,
since it greatly resembles the technology they themselves have adopted.
Concentrating on the major pain point of e-commerce fraud would help
give EMV QR Code the best chance of success, along with applicability in
countries where the point-of-sale infrastructure is underdeveloped
relative to the availability of mobile phones.

Key Highlights

  • A brief history of efforts to improve the security and customer
    experience at the point of sale
  • Detailed process flows for EMV, “quick” EMV, and consumer-presented
    and merchant-presented EMV QR Code
  • Analysis of why NFC has not taken off in the United States and what
    might be done to change this
  • Recommendations on how EMV QR could best be brought to market

Key Topics Covered

1. Executive Summary

2. Introduction

3. How EMV Reduces Fraud

4. The Process Flow of an EMV Classic Transaction

5. Early Attempts to Speed Up EMV

6. The Faster EMV Transaction

7. Introducing the QR Code Acceptance Methods

  • The Consumer-Presented QR Code Model
  • The Merchant-Presented QR Code Model

8. Conclusions

  • References

Companies Featured

  • American Express
  • Apple
  • Discover
  • Google (Android)
  • Mastercard
  • NYCE
  • Pulse Star
  • Starbucks
  • Visa

For more information about this report visit https://www.researchandmarkets.com/research/bqhxnf/emv_technology?w=4


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