DES MOINES, Iowa-Aris Jerahian, VP of client relations at The Members Group, in a white paper titled "Chip Card Debate: U.S. Weighs Benefits of PIN and Signature Formats," cites five considerations for financial institutions thinking about migrating to EMV.
• Current and Future Fraud Losses. What does your financial institution stand to gain by decreasing fraud attempts? How will this become even more important as domestic fraud increases due to lower EMV penetration than most other developed nations?
• Cardholder Convenience. Will EMV's lower fraud risk expose your cardholders to fewer declines due to fraud prevention efforts, like card blocks?
• Interchange. How will improving acceptance internationally and arming your cardholders with the most secure payment method available today increase your portfolios' revenue?
• Portfolio Segmentation. Which sections of your portfolio are positioned best for EMV?
• Education. What more does your team need to understand before pulling the trigger?
