Coping with new EMV initiatives

Since their widespread implementation in 2005, EMV cards have lacked sophistication and almost all of the 145 million EMV cards issued since 2005 carried only a single application, offering only simple functionality. Most EMV card issuers have only implemented EMV data preparation software or simply upgraded their in-house card issuance systems. Yet recent EMV initiatives are making more use of the EMV infrastructure, expanding functionality and reducing costs. Such initiatives are encouraging issuers to regain their enthusiasm for EMV. Current systems used by EMV issuers, however, have yet to prove they will be able to cope with the new requirements.