At One Payment, we love keeping our readers in the loop with new technology! In this article, we will highlight some consumer issues that have resulted from using the EMV chip card.

The Big Picture

Since the October 2015 deadline, American consumers have adapted to the new technology quite well. While no technology is perfect, and we are still working to get some of the kinks out, the process has gone relatively well in the grand scheme of things. A recent survey showed that over 75 percent of Americans view the chip cards positively. Interestingly, chip cards have also become the most popular form of payment. Believe it or not, the United States was one of the last nations to adopt the chip card technology.

The Confusion

While chip cards are extremely popular, many consumers are still confused on the actual payment process. Out of habit, many consumers still swipe their card, or they look to the cashier for guidance. While there is certainly a learning curve to be expected with new technology, when everybody asks the same question, it further delays the transaction and increases the number of cranky customers waiting in line. More often than not, the consumer is afraid to do something incorrectly. Part of the confusion lies in the fact that some retailers accept the cards, whereas others are still using older methods, such as swiping the card.

The Frustration

While the main complaint has been that chip card transactions take significantly longer to complete, in actuality, it’s only about 11 seconds longer per transaction. However, during the holiday rush, when every second matters, those extra seconds can feel like hours, especially when the lines are long.

The Ultimate Benefit

While it’s easy for consumers to be irritated with the delays, they must remember that this technology is designed to enhance their security and the security of the merchant. Yes, some things might take a little bit longer than normal, but in the grand scheme of things, an extra few seconds now will save a huge headache later if there were to be an instance of fraud.