According to the study conducted by research company Mercator Advisory Group and sponsored by VeriFone Systems and Transaction Network Services, there is much misinformation revolving around payment card security implementation, in particular the expectation that deployment of the EMV smartcard standard in the US could solve all card security issues.
Full realization of EMV in the US “will take five to ten years of patience,” George Peabody, Director of Mercator Advisory Groups Emerging Technologies Advisory Service has commented, pinpointing also that EMV “is not an entirely secure solution” and “cannot plug all the holes in a multi-channel world.”
The report concludes that encryption infrastructure is no longer a “difficult-to-manage” task for merchants and can be implemented either as a system or through managed services.
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