Progressive Grocer

JUN 2016

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June 2016 | progressivegrocer.com | 181 As EMV cards pave the way for contact- less payment, the checkout process and experience will be faster and simpler for shoppers." —Nona Cusick, Capgemini pers. Steele points out that a chip-embedded card is difcult to forge, as opposed to a "mag-stripe" card, which can be reproduced relatively easily from stolen credit card information. "In an EMV card," he explains, "security infor- mation — unique to the specifc card account and decipherable only by properly confgured computers — is embedded in the chip itself. To forge one of these cards, you'd have to steal a consumer's ac- count information and know the secret information that the card issuer encoded into their unique chip. Tis makes those cards very difcult — some say nearly impossible — to forge." Future Benefits For grocers, EMV cards provide key improvements to business-processing eforts and timing, according to Nona Cusick, SVP of consumer products, retail and distribution at Capgemini, a Paris-based global consulting and technology frm. "Grocers can expect to increase their productivity as the EMV cards facilitate ofine authentication and streamline the checkout process at POS, the cashier's day-end book balancing, and cash handling," notes Cusick. "In addition to fraud reduction and various other benefts, EMV cards enable and simplify the implementation of customer retention eforts such as loyalty programs and marketing schemes. "Perhaps the greatest beneft that EMV cards provide to shoppers is increased customer satisfaction and peace of mind," she continues. "As EMV cards pave the way for contact-less payment, the checkout process and experience will be faster and simpler for shoppers. Just as security is a huge beneft for grocers — the EMV's card authentication, cardholder verif- cation and transaction authorization features enhance overall transaction security and provide shoppers with a greater sense of security with their purchases." Along with these benefts for grocers and their customers, there's one glaring disadvantage of not being EMV compliant. When a counterfeit credit card was used at a store's checkout before Oct. 1, 2015, the bank issuing the plastic took the loss. After that date, however, the liability shifted to retailers. In other words, they'll be fnancially responsible for fraudulent transactions. Tat should be enough to prompt every grocer in the country to be EMV compliant. But that will happen only when the card networks do their job in the transition to the new card type. PG

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