Focus on EMV Migration, One Year After the Liability Shift
TEMECULA, Calif., Sept. 19, 2016 — National Merchants Association CEO Heather Petersen will address Members of Congress and federal regulators on payments industry issues, with a focus on EMV migration one year after the liability shift, as part of the Electronic Transaction Association (ETA) Annual Capitol Hill Fly-in on Wednesday, Sept. 21. National MerchantsAssociation is a global merchant advocacy group and a leader in merchant services.
“Our goal is to help educate Members of Congress about payments issues, particularly the EMV transition, so they can make policies that benefit the economic welfare of our country,” said Heather Petersen, CEO, National Merchants Association.
Migrating America’s more than 5 million merchants and 1.2 billion credit and debit cards over to chip technology is an enormous task that is unprecedented in its complexity and scale, requiring many independent players working together. The migration was announced in 2011 and officially started on October 1, 2015. According to the ETA:
- The majority of Americans report they already have at least one chip card.
- 2 million, or 33 percent, of active merchant locations in the United States have upgraded to chip readers. Nearly three quarters of these merchants are small businesses.
- Counterfeit fraud costs have decreased more than 50 percent at U.S. retailers who have completed or are close to completing EMV adoption
- Merchants who have not yet migrated are seeing a 70 percent increase in in-store counterfeit card fraud.
“National Merchants Association is dedicated to helping merchants and agent partners grow their businesses by generating sales opportunities and maximizing profits, which includes supporting them with the EMV transition and helping them to mitigate fraud,” Petersen added.
Petersen currently serves as Chair of ETA Professional Development Committee and is a member of ETA’s Women’s Network in Electronic Transactions (Wnet).
Also participating in the ETA Capitol Hill Fly-in from National Merchants Association are Jacob Bennett, VP of Risk and Underwriting, and Brian Randolph, chief technology officer.