The shift to EMV is adding complexity and cost for card issuers and it’s only going to tackle part of the problem around payments fraud. That’s according to Render Dahiya, CEO of Arroweye Solutions at least. In an interview in the Finetics™ Studio by The Bancorp at Money 20/20 in Las Vegas he talks about the impact of EMV migration on issuers and why it’s just a “stop gap” measure on fighting fraud.
“There was the October deadline but many merchants are still in the process of migrating,” says Dahiya. “At the same time it’s added two things to the card issuing model. It’s added complexity and cost. Complexity wise there’s a lot more upfront work to start a programme on EMV than there used to be and a lot more administrative models.
“Cost-wise it’s five to 10x to get cards in the marketplace so it’s really modifying the whole P and L of issuing.”
Access Render Dahiya’s full interview, plus more insights on ‘EMV & The Future Of Fraud’ from Commerce Ventures’ founding partner Dan Rosen, Aite Group Retail Banking research director, Julie Conroy and Bancorp SVP payment acceptance Charles Crawford on The Bancorp’s Finetics blog.
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