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EMV for Debit: On the Payments Horizon

EMV for debit is a work in progress. Preparing for the transition means expecting the unexpected.

By CO-OP Financial Services | Updated on October 13, 2015

As a credit union decision-maker, you are well aware that EMV technology is emerging as the new security standard for card-present payments here in the U.S., and that EMV adoption is moving forward much faster for credit than for debit. 

While the conversion to EMV technology brings with it increased fraud protection for consumers, your credit union may be struggling with the uncertainties of these uncharted waters, especially on the debit side of the equation.

“EMV for credit is moving into the U.S. marketplace now, so credit unions have some visibility into how this technology will impact their business,” said Michelle Thornton, director of product development for CO-OP Financial Services. “EMV for debit is another story. Because the technology required to meet U.S. regulations is still in the development and implementation phase, the industry is diligently working to deploy this in the market.”

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