Originally Posted by
AllieKat
These things need to be mandates. Visa and Mastercard need to put their foot down, say 2016 for 3-D Secure and 2017 for EMV. Not supported at that point? We don't take your transactions. End of story.
I think the liability shift is more than sufficient. If merchants think that it's cheaper to pay the cost of fraud than to get new terminals, that is their choice. As EMV is implemented, the fraud is going to quickly migrate to the merchants that don't participate (just as it migrated from Europe to the US), so the holdouts are going to face a lot of pressure to switch. Perhaps there will be some that won't, just like there are some merchants today that still use manual imprints, but they will be very few. I don't think mandates are a good idea, since they stifle innovation and distort the market.