We hear everywhere of imminent EMV Chip-and-PIN, but according to one recent survey, significant numbers of retailers remain relatively unprepared.

The second annual "Retail Technology Adoption Report," conducted by Lightspeed POS, finds only 18% of retailers in the U.S. have already implemented EMV payment technology, and fully 45% are poised to miss the October 15, 2015 deadline.

55 pct

Of those lagging, 25% do not understand the new rules, 18% do not want to deal with the hassle or cost of switching payments hardware, and 17% have never even heard of EMV or Chip-and-PIN. As for new mobile-based schemes, similar reluctance appears on the part of retailers. Only 9% currently accept Apple Pay, and fully 40% have no plans to ever accept Apple Pay, citing lack of interest on the part of their customers.

Overall, by the end of 2016, 34% plan to support Apple Pay, 25% plan to support Android Pay, and 23% plan to support Samsung Pay. "Retailers seem to be waiting to upgrade their POS systems until they find one that can accept both EMV as well as mobile payments," concluded Dax Dasilva, CEO of Lightspeed POS.

"If you look at the numbers, the amount of retailers that plan to accept Apple Pay by the end of 2016 is close to the number that expect to be EMV ready. Retailers with modest budgets demand technology that does double duty--they're willing to delay upgrades."