According to a recent report from Javelin Strategy & Research, up to 75 percent of merchants in the United States will not be EMV compliant by the October 15th deadline. Many major retailers have already started implementing EMV terminals but smaller merchants are much further behind and many have no plans to catch up. A survey commissioned by Intuit in late April found that only 42 percent of small businesses plan to make the switch to EMV.
At the end of 2014 the EMV adoption rate among U.S. merchants was 7.3 percent. As many large retailers have invested in upgrading their payment terminals this figure has climbed in the first half of 2015, but only about one-in-four merchants are expected to be EMV compliant by the liability shift date, according to Javelin. Javelin also estimates that the total cost to upgrade to EMV will be $8.7 billion across merchants and financial institutions. While many large and enterprise organizations have already started this transition, there are several signs that smaller merchants and issuers are lagging behind.