Major payment schemes have released roadmaps for the global completion of EMV® contact and contactless technology migration, such as Mastercard’s milestone, to help POS vendors anticipate the development of EMV capable solutions in the near future.
Even though the migration to EMV has started in the early 90s in Europe which is now a mature market, it has only been introduced 2 years ago in the US and still need to be promoted.
Mastercard requires that from October 2018, newly deployed POS terminals support EMV contact and contactless functionalities.*
And all POS systems shall embed EMV and contactless technology by April 2023.*
*Please note that these rules and dates may defer according the regions, such as US or Canada, and the nature of the deployed terminals (POS, mPOS, unattended terminal, integrated POS…).
The other major payment schemes have also edited milestones to achieve EMV and contactless payments’ expansion. Do not hesitate to contact your Alcineo representative to obtain further information, at : firstname.lastname@example.org.