How Does EMV Impact Financial Services Brands?
Thieves stole more than 500 million financial records in 2014. That’s one financial record for every 14 people on earth. This not-so-secret secret has put consumers on edge.
Americans in particular are demanding greater security through EMV chip card technology. Nearly one in 10 forum discussions about EMV—shorthand for Europay, MasterCard and Visa—lament the slow adoption of secure chip-and-PIN technology in the United States.
Cision Global Insights’ recent white paper “EMV Implementation: Is It Impacting Your Brand Reputation?” helps financial organizations better understand and cater to the needs of this new breed of cautious consumer.
To date, consumers’ financial security worries have not been quelled, providing threats and opportunities for financial services organizations.
“In our research, we discovered that among card issuers and merchants, no one owns the conversation,” says Cision Insights Vice President Craig Mitchell. “There is a dearth of information available to consumers, making them uncertain, frustrated and driving them to social media to find answers and support.”
Social media, though, is a medium where inaccurate, brand-harming information can spread rapidly.
By stepping up to the plate and owning the conversation, financial services organizations can build trust and, ultimately, turn people desperately searching for answers into customers. But how?
The white paper from Cision Global Insights analyzed thousands of online conversations to highlight consumers’ specific needs and pain points and show the impact EMV compliance will have on your brand.
The free white paper’s insights expand upon the following ideas:
- A need for EMV information is driving consumers to social platforms
- Consumers remain skeptical about the security implications of EMV
- Mobile payments are seen as a viable alternative to EMV adoption
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