So we all heard the huge hype about EMV chips and how it is soon going to be a requirement and every business in the world is spending a whole bunch of extra cash to embrace this new technology. With Aldelo clients we probably bought more than twenty thousand devices just to keep up with the demand. The Aldelo Solution around the EMV process was tricky. It almost felt like the EDC was an absolutely useless software. You cannot process through the EDC, you cannot refund through the EDC, and even your Batch is not controlled by the EDC.
When we were selling it, our biggest point from merchant processors is that when you have EMV you cannot get chargebacks! and that made it worth the investment until we found out that it was a false statement.
Now the thing is EMV with Aldelo is something that is bineg implemented because of this hype and merchant companies are taking advantage. People are switching their entire systems just so they can get EMV.
So here are my thoughts on that:
EMV is annoying and it is slow, when you are running a fast paced operation the last thing you want is to wait and stair at a machine for 30 seconds while you hear the most annoying beeps and sounds
EMV is not the future and it will not be the only form of payment. That hype that is made to scare you is just plain false. Apple Pay and Android Pay which are device based systems and less secure than swiping are here to stay and they are more futuristic than having a slow processing chip. so unless you think Apple pay is going to be deemed illegal, i think EMV chips score very low on the usage rate.
The Hype about bitcoin is something to consider for the future and it will be interesting if we can see aldelo integrate with bitcoin. That will be a bigger selling point than having EMV. Think about it; bitcoin is about privacy and I can see aldelo and Xera bieng at highend confedential places where people do not want to be tracked. This should be their next move for sure if they want to stay in the game.
EMV with Aldelo is more risky than classic swipe and this is because if your device goes offline for more than two days (which happened to one of our clients) the transactions get stuck on the terminal and not on the EDC and this makes a bigger issue where you have to call the processor and make sure you get paid. Thats also pointing out another fact where if one emv device dies for some reason (like an angry emplyee decides to spill water all over it) you will have a nice walk in the park trying to retrieve these transactions from that device.
All in all I understand why Aldelo decided to go to the EMV route and i remember they really tried to avoid it as much as they could, but unless your clients are insisting on using EMV, wait it out. The longer you wait the better, and hopefully the problems of today have better solutions tommorrow.