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Adoption of EMV cards, a global standard for credit and debit card payments sometimes referred to as chip-and-PIN, has a ways to go. March 2016 research found that consumers are still struggling when using these cards for the first time.
Marketing and public relations firm Walker Sands Communications surveyed 575 US internet users ages 18 and older. The leading complaint when using an EMV or chip card was that the transaction stalled or delayed; 57.8% of respondents said it did.
Additionally, more than half of internet users said that a cashier had to instruct them to swipe the card instead of insert it into the reader. Frozen card readers and declined transactions were other leading complaints that respondents faced when using their EMV or chip card for the first time.
Consumers are not the only ones that are struggling with EMV cards, retailers and financial institutions are as well.
A survey from Computer Services Inc. (CSI) found that financial institutions are facing many challenges this year, and though implementing EMV payments is not as much of a challenge for them as driving growth and profitability, it’s definitely something they’re keeping an eye on.
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