Can Visa sustain momentum of EMV-enabled cards?

January 12, 2012

Adoption cannot come soon enough, frankly. To speed thins along, Visa has crafted a three-prong strategy that provides an interesting blend of carrots and sticks aimed at getting merchants to upgrade.

Here’s the carrot: Effective October 1, 2012, Visa will launch its Technology Innovation Program (TIP) domestically. This will effectively waive PCI DSS requirements for merchants who can show that 75 percent or more of their Visa transactions originate from chip-enabled hardware. To qualify, terminals must be enabled to support both contact and contactless chip acceptance, including NFC-based mobile payments.