Having an EMV-enabled system in place is not a total guarantee against breaches. Holes in updated POS infrastructures may have instigated recent compromises, and credit unions need to aware as well.
According to EMV chip data from The Strawhecker Group more than 52% of merchants enabled their system to accept chip payments. Glenbrook Partners recently reported that 63% percent of all cards in the market are chip cards.
Nevertheless, what is troubling to merchants and financial institutions is recent breaches occurred despite EMV-compliant devices in use at those locations. For example, at the recent Kmart breach, the company acknowledged malicious code infected its payment data systems despite the retail chain having implemented EMV compliant POS systems.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
