According to recent data, younger consumers are having a harder time adjusting to EMV technology than older consumers, primarily due to a generational split based on speed and security.

1. Why Do Younger Consumers
Oppose EMV Technology?

2. • According to recent data, younger consumers are having a
harder time adjusting to EMV technology than older
consumers, primarily due to a generational split based on
speed and security.
• Younger consumers believe that swiped payments are quicker
compared to chip payments, however, in reality chip cards do
not take much longer than standard swipe transactions.
Why Do Younger Consumers Oppose EMV?

3. • With chip cards, consumers must keep their cards inside
the terminal longer than a swipe, making it perceived as
if the overall transaction is slower to process.
• "Younger people prefer the quicker and faster
transaction,” said Jeanne Paluch, research director of
Morpace. "If you're keeping the card in, it feels like it's
taking longer."
Why Do Younger Consumers Oppose EMV?

4. • Older generations prefer EMV, as they feel this new form
of technology keeps their card information more secure
than a swipe.
• "On the other hand, preference for chip cards among
older people was more often driven by perceptions of
increased security," said Tim Taylor, vice president of
Financial Services of Morpace.
Why Do Younger Consumers Oppose EMV?

5. • A study conducted by Morpace found the following
information in regards to card preference based on
younger and older consumers:
– 48% of older consumers aged 55 or older favor chip cards, with
30% preferring swipe cards.
– 43% of younger consumers aged 18 to 34 favor swipe cards
instead of chip cards, with 21% preferring chip cards.
Why Do Younger Consumers Oppose EMV?

6. • "This seemed counterintuitive to us based on the usual
paradigm of younger people more readily adopting new
technology compared to older people," said Taylor.
• There’s also the issue of all consumer’s having to learn a
new form of technology to make payments, due to the
liability shift.
• According to Morpace, only 66% of the consumers who
prefer EMV technology know why swipe cards are being
replaced with chip cards.
Why Do Younger Consumers Oppose EMV?

7. • "There needs to be more education… they don't
understand why they're getting a different card and they
don't know what to do with it," Paluch said.
• Most consumers are not familiar with how an EMV
transaction process occurs, and if they do not use their
card correctly at an EMV-capable terminal, they have to
start the transaction process over.
Why Do Younger Consumers Oppose EMV?

8. • These repeated transactions cause a slower checkout
process and creates the perception that chip cards are to
blame, not the confused consumer.
• "A lot of card holders aren't sure of when to put the card
in and when to swipe—and if you do that wrong, you
have to repeat the process, which makes the transaction
seem longer," said Jessica Tomlinson, a research analyst
for Morpace.
Why Do Younger Consumers Oppose EMV?

9. • As a result, it is vital for business owners to become
informed about EMV technology, so they in turn can train
their staff to assist consumers with EMV transactions.
• Cashiers are key employees who can help make sure
consumers have a seamless checkout experience and
explain how to properly use a chip card.
Why Do Younger Consumers Oppose EMV?

10. • EMV technology can be confusing, and even difficult for
both consumers and merchants to completely
understand.
• Nevertheless, the more informed consumers become on
EMV with the help of merchants, the easier it will be to
use their chip card at EMV-capable terminals.
Why Do Younger Consumers Oppose EMV?

11. Are you a merchant looking to integrate EMV solutions?
Contact First American Payment Systems and get started today!