IHL, which tracks retail payment trends, has slammed EMV in a recent report, calling it “a colossal waste of time, effort and capital to the retail industry.”
Source: www.paymentssource.com
Major holdup for EMV is that the banks are going to charge more per transaction to do EMV. That’s a break in tradition where usually the more secure transaction has fewer fees since fewer problems. Card present transactions are cheaper for businesses than card-not-present for example.