In an art­icle for Bank Sys­tems and Tech­no­logy, Olivia LaB­arre high­lights increas­ing con­cerns about the EMV secur­ity stand­ard. The art­icle quotes:

‘Lars Dav­ies, CEO and founder of Kalypton, a group of com­panies that spe­cial­izes in secure inform­a­tion man­age­ment and elec­tronic pay­ment sys­tems, says the find­ings sug­gest that EMV needs to be replaced by a new, less com­plex solu­tion. He claims that in order to fix holes in the EMV spe­cific­a­tion one would have to add more lay­ers onto it, mak­ing it even more com­plex and less adapt­able to changes or future fixes. “Simply adding to the EMV stand­ard is like con­tinu­ally adding small stick­ing plasters to a con­stantly seep­ing wound,” he says.’

Defend­ers of EMV point out that it is bet­ter than the stand­ard it is repla­cing and argue that imple­menting a super­ior solu­tion would incur unac­cept­able delay. Tereon was developed to address that last con­cern and is avail­able for pur­chase now.