In fact, in Software Advice's December 2014 report on the EMV preparedness levels of small and midsize businesses (SMBs), we were surprised to find that one-quarter of retailers were unaware of the standard. This may prove to be a costly mistake, as non-compliant retailers can soon be held liable for fraudulent transactions.
Their recent report on must-have retail point-of-sale (POS) features brought a similarly surprising discovery: 64 percent of single-store retailers don’t have a POS system in place. Combining these data points, this report will highlight why the impending EMV deadline offers a great chance for retailers to finally upgrade to a POS system—while also making the transition to chip card readers.
In this report, you’ll learn that:
- Less than one-quarter of retailers are currently EMV-compliant.
- Nearly a quarter of non-compliant retailers say EMV is "unnecessary."
- Almost two-thirds of consumers haven’t been issued EMV cards.
Read the full report here: www.softwareadvice.com/retail/will-smbs-meet-emv-deadline.
Source: Software Advice
