Issuers' Problems
The EMV payment application profile possesses a large number of parameters. How will we setup our products to make our cards more convenient for the cardholders and, at the same time, less exposed to fraud?
Credit cards will require PIN-based cardholder authentication. It is a challenge not only for the cardholders but for the issuers. A a person who has a credit card will think twice before accepting another one if it comes with an additional PIN. Cardholder PIN reset is a technological challenge as well. How can we resolve these problems?
Technology and business environment is changing fast:
Another cardholder authentication methods, different from PIN or signature will come sooner or later.
Transit entities develop their own smartcard-based fare payment systems, and it would be good to collaborate with them to build interfaces and save on shared infrastructure.
The cellular phone can be a perfect nest for payment applications and means of cardholder authentication in both card present and card-not-present environments.
Contactless POS to cards interface technology is emerging.
How can we benefit from these innovations on our way to EMV?