Chip and PIN: The Coming Tsunami of Costs for CNP

EMV or what is commonly referred to as “Chip and PIN,” has been adopted by the major card networks as the technology standard to reduce counterfeit and lost or stolen card transactions. EMV has been adopted in most all global markets by issuers and acquirers.

What many US merchants don’t realize – especially Card Not Present (CNP) merchants – is the gathering storm of costs this technology will bring as it is implemented in the United States.

We spoke with Dr. Thomas Layman, who helped us understand the forces that will come into play with US Chip and PIN adoption. Tom is the President of Global Vision Group, an international consulting firm in electronic payments and former Chief Economist at Visa.