Global EMV Migration Update - Canada
Mercator Advisory Group has published a new report on the plans for the Canadian payment card market to migrate to EMV chip cards over the next few years.
"From the most basic local produce market to the most complex financial market, many market structures around the globe are built on trust, and electronic payment markets are no exception. As individual consumers get more connected with the help of modern communication technologies, mass and alternative media channels, negative news surrounding a payment method such as credit cards can reach credit card users in the blink of an eye. Technologies that are designed to secure electronic payments such as the EMV smart card technology play an even more critical role in maintaining consumer confidence and protecting the trust factor in electronic payments in today's highly connected and information-rich environment", comments Evren BAYRI, Director of Mercator Advisory Group's International Payments Advisory Service.
The most recent report from Mercator's International Payments Advisory Service discusses the shift from relatively vulnerable magnetic stripe payment cards to more secure microprocessor-based smart cards in the Canadian market. The report provides an overview of the state of the payment card market in Canada, an analysis of the business case for Canada's EMV migration project, an in-depth analysis of the card fraud trends in the Canadian market, an alternative view into the cost of fraud and its impact on payment card markets, and a review of Canada's EMV migration project timeline.
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