Abstract
EMV Migration in Canada: Opportunities and Challenges, 2007 is the most
comprehensive and authoritative independent strategic analysis and forecast
available on the Canada' s EMV migration program. It includes a detailed
analysis of the Canadian payments landscape and establishes the payment
context in which EMV migration will take place. The 115 page report analyses
the most important opportunities and threats facing EMV migration in Canada,
and identifies the key challenges that will need to be addressed by issuers,
acquirers and different classes of merchants for migration to be successful.
Detailed forecasts are presented for the migration of credit and debit cards,
POS terminals, ABMs and automatic fuel dispensers to EMV. Based on interviews
with more than 55 key executives in the industry, as well as extensive
secondary research, this detailed report is an essential reference document
for organizations both within Canada and around the world involved in
planning, implementing, or supplying goods or services to EMV migration
programs.
Why buy this report:
Subscribers to this study will gain an understanding of the dynamics of the
complex EMV migration process, its impact on different types of participant,
from consumer, to merchant, to card issuer, to acquirer, and how different
issuer choices impact on EMV migration costs and influence the future
direction of the market. They will have essential information on the needs of
different categories of stakeholder in the migration process, on market
prospects and opportunities arising from EMV migration, important trends, key
drivers and critical issues affecting migration. Subscribers will be able to
make well-founded, research-based, strategic decisions about the planning and
implementation of successful EMV migration programs.
Who should buy this report?
This report is essential reading for senior executives from the following
types of organizations:
Card issuers, acquirers, integrated merchants, small retailers, ISOs, payment
organizations and any other organizations that are likely to be affected by
the Canadian EMV migration program. They will have an authoritative,
independent and unbiased view of EMV migration in Canada that will assist them
in their EMV migration planning and implementation Suppliers of smart cards,
point-of-sale terminals and card acceptance devices, ABMs and automatic fuel
dispensers, NFC devices, software and middleware that are keen to succeed in
the Canadian marketplace Professional services and consulting firms that are
able to leverage their international experience base in EMV migration through
providing services to the lucrative Canadian market, a market that is
suffering from a severe skills shortage for the implementation of EMV Policy
makers, financial institutions and suppliers from other countries and
jurisdictions that are considering, planning or implementing EMV. They will
have access to well-founded, independent comparative information that will
inform their own thinking about EMV migration
Market summary
- The investment required to migrate to EMV will exceed $1 billion
- By 2010, the date set by Visa Canada for the liability shift between
issuers and acquirers in Canada, only 36% of all credit cards in Canada will
have migrated to EMV-compliant smart cards
- The number of payment cards in Canada will exceed 132 million units by
2011 (including smart cards and magstripe cards)
- There are a number of important opportunities for convergence with
EMV-based payment applications emerging on the Canadian market, most notably
in the areas of transit and loyalty
- There is significant potential for credit card payments to be displaced by
debit card payments as a result of the introduction of chip and PIN payments
in Canada
- Most retailers have not been engaged in the EMV migration planning process
and are likely to resist migration when the cost and business process
implications of migration become clearer to them
- Petroleum product retailers will have to incur substantial costs in order
to upgrade their automatic fuel dispensers to accept chip and PIN debit and
credit card payments
- The introduction of chip and PIN for credit cards will have some
significant implications for consumers and is likely to reduce the number of
payment options that consumers use on a regular basis
- White-label ABM owners will have to incur substantial costs in order to
upgrade their equipment to accept EMV-compliant payment or banking cards.
- EMV migration will be slower than anticipated because of the numerous
challenges facing issuers, acquirers, merchants and white-label ABM owners
- Wireless payments is an important growth area that may overtake the
planned rollout of EMV contact smart cards
Research Methodology
The report is based on interviews with 56 key-decision-makers and experts from
Canada and globally, supported by extensive desk research, TSI' s own internal
databases on the Canadian and global smart card markets, and TSI' s expert
analyst insight.
Number of Interviews by Sector
- Sector:Financial Services, (20)
- Sector:Retail (15)
- Sector:Suppliers (6)
- Sector:Associations, Consultants and Industry Experts (5)
- Sector:International Experts(5)
- Sector:Other(5)
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