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EMV QR codes could solve the e-commerce fraud problem if merchant concerns can be overcome.
Mercator Advisory Group releases a new research report on the latest developments in point-of-sale technologies, including EMV chip cards, NFC, and QR Code.
Author: Tim Sloane Published on: June 18, 2018
Mercator Advisory Group’s latest research report, EMV Technology Update: EMV Classic, Faster EMV, and Now QR Code EMV, goes into detail on how these technologies work, and what card issuers need to do to ensure that EMV QR codes meet a friendlier reception than other network-backed standards.
“EMV got off to an extremely rough start in the United States,” comments Tim Sloane, Vice President, Payments Innovation, at Mercator Advisory Group, author of the report. “While the networks were able to improve the EMV experience by streamlining the process flow, a considerable amount of ill will built up, endangering the reception of a technology that normally merchants would welcome, since it greatly resembles the technology they themselves have adopted. Concentrating on the major pain point of e-commerce fraud would help give EMV QR Code the best chance of success, along with applicability in countries where the point-of-sale infrastructure is underdeveloped relative to the availability of mobile phones.”
This document contains 15 pages and 4 exhibits.
Companies mentioned in this research report include: American Express, Apple, Discover, Google (Android), Mastercard, NYCE, Pulse Star, Starbucks, and Visa.
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