How far have retailers come with EMV?

The intense focus directed on EMV compliance in fall 2015 has faded, but it is still a critical issue for the retail industry.



Away from the spotlight, progress in EMV compliance since the Oct. 1, 2015 mandate passed has moved more slowly than many in the industry may realize. According to a survey of 200 retail professionals conducted during the January 2016 NRF Convention by ACI Worldwide, the majority of respondents are not compliant.



Of the retailers surveyed, only 8.5% indicated that they were already compliant and 14% are not prepared. Almost half (48%) are prepared or somewhat prepared, but still have work to do and/or are still evaluating their options for EMV.



The survey also covered a few other technology-related issues that are of primary importance to retailers in 2016.



• Mobile Apps: Payment security (72%), integrated loyalty options (71%) and seamless ordering (55%) were highlighted as the top three features that all respondents want their mobile app to deliver.



• Mobile Wallets: Seventy-five percent of respondents prioritize payment security as the most important feature of a mobile wallet offering, followed by integrated loyalty/rewards (55%) and mobile ordering (46%).



• Digital Channel Sales: Although it was not surprising that 70% of all survey respondents cited online/domestic as the top channel their retailer sells through today, online shopping in-store (via a tablet or other device) ranked as the second most popular digital channel (45%). This was followed by online/international and cross border (44%) and mobile/in app (38%). Only 11% of respondents cited social media.