Originally Posted by
kebosabi
"Javelin Strategy & Research estimates the basic cost of deployment for EMV in the U.S. at $8.6 billion...
Originally Posted by
kebosabi
...the key thing that I have the frustration with. We have no option here in the US even if we want one.
Two separate propositions have become conflated in this discussion.
The cost estimates refer to converting USA card processing systems to Chip & PIN. I do not personally believe that implementation cost is the primary obstacle, but my opinion is unimportant. There is some pressure in that direction from some large US retailers:
http://www.banktech.com/blog/archive...ers_to_ba.html
The separate issue is why no USA banks issue CHIP & Pin cards for international travelers. It appears this will start with Corporate accounts and trickle down to small business and consumer accounts. I think the cost per account to offer this will remain high if the USA does not broadly adopt Chip & PIN, and this cost will be passed through to cardholders.
I would expect American Express to be first because they already have the technology and they have full control of their own transaction processing network, but it appears JP Morgan Chase may beat them:
http://www.paymentsnews.com/2009/10/...travelers.html