While EMV may be more secure than magnetic stripe technology, many believe (including FinTech Collective) that it may make more sense to skip over this shitty old technology and go straight to mobile.
Great article from Karen Webster of PYMNTS.com (@karenmpd)
The payments Black Swan that we’ve all been cautiously awaiting has finally arrived. True to form, it caught everyone by surprise, and it has the potential to change the course of the payments ecosystem for perhaps decades to come. That Black Swan? The Target data breach. In this Black Swan’s wake is EMV, and an industrywide call to action to accelerate the implementation of this 30-year-old plastic, card-centric chip technology. This call to action is prompted, in large measure, by Target’s PR move to become the public face of an effort to push EMV in order to keep consumer confidence in using their cards at retailers. By using the bully pulpit of every news outlet that will listen, it has now put pressure on all merchants to spend time, money and resources to deploy a three-decade old technology standard that comes embedded in a plastic card.