When it comes to customers and late payments, it can be like walking on a tightrope; it may be a delicate situation to conquer, and one wrong step might make the issue worse. After all, they are still your customers. However, lacking that source of valuable cash can create a major cash flow problem, which can have spiral effects to every part of your business.
Usually newer tech means faster tech but that's not the case with EMV. Chip based cards are actually slower than mag based cards because there's a lot more data being transferred back and forth compared to the swipe. Your card, the POS system and your card issuer are having a high tech chat that includes encryption and randomizing your data. More secure, yes. More time consuming? That too.
Everybody is busy and would love more time to focus on the issues at hand. In fact, getting back spent time is more valuable in my book then what my "hourly" rate is. Opportunity cost is the main reason. So when evaluating a specific technology, make sure to value your team's marginal time appropriately.
Unfortunately for many business owners, many of them will only be reading and hearing about the importance of EMV in the coming months, as the story gains national coverage - with 20 days to go before the liability shift occurs, many will be left wishing they were better informed, at a much earlier time.