RIS: What are some best practices for upgrading to EMV technology without disrupting business?
Floyd: An outdoor EMV system is made up of three parts: fuel control, payment control and the outdoor payment terminal. Retailers may get these from different vendors. Thorough project planning and communication is critical to keeping all parties aligned for delivery and successful deployment of the EMV.
Since EMV prompts and failure modes are different from magstripe, you must train your employees so they can support customers through the first few weeks, if needed.
Prepare customers for EMV by letting them know it’s coming to the store. Use your social channels to create awareness and share examples of EMV transactions, while showing you’re committed to securing their transactions.
RIS: What does the future of EMV look like and how can retailers prepare for it?
Floyd: The next big change in EMV will be the accelerated adoption of contactless cards. Card brands are pushing EMV cards into markets with significant mass transit systems. That trend will spread throughout the country as current EMV cards get re-issued. Retailers who support contactless and mobile payments will deliver better experiences and attract digital consumers.
The rate of forced change by EMV standards is faster than for magstripe. Retailers need to support frequent kernel updates and key changes, driving up operational expense. NCR OPTIC allows retailers to remotely manage these updates and reduce operational cost.
Following these best practices, and pairing EMV compliance with revenue-boosting consumer engagement at the pump, provides the smartest way to update your current outdoor payment technology. Click here to learn more about NCR OPTIC.