By SEMA Washington, D.C., Staff

In October 2015, the major credit card companies will shift liability for fraud onto merchants that do not make the switch from payment terminals that read magnetic strips to terminals equipped with electronic chip-reading technology. The international standard for chip cards and chip-reading terminals is “EVM,” which stands for Europay, MasterCard and Visa—the companies that initiated the move to the chip-based payment system. 

Liability for credit-card fraud has traditionally been borne by the issuer, not the merchant. This shift of liability from issuers to merchants has come in response to the increasing threat of identity theft and fraud. The more secure EVM system allows for immediate authentication without transmission of sensitive information outside the payment terminal. 

Recent high-profile data breaches exposing customers’ payment information have resulted in billions of dollars in damages to card issuers. Chip card technology and the EVM standard are expected to help reduce the costs of similar breaches in the future. 

For more information, please contact Ashley Ailsworth at ashleya@sema.org.

By SEMA Washington, D.C., Staff

In October 2015, the major credit card companies will shift liability for fraud onto merchants that do not make the switch from payment terminals that read magnetic strips to terminals equipped with electronic chip-reading technology. The international standard for chip cards and chip-reading terminals is “EVM,” which stands for Europay, MasterCard and Visa—the companies that initiated the move to the chip-based payment system. 

Liability for credit-card fraud has traditionally been borne by the issuer, not the merchant. This shift of liability from issuers to merchants has come in response to the increasing threat of identity theft and fraud. The more secure EVM system allows for immediate authentication without transmission of sensitive information outside the payment terminal. 

Recent high-profile data breaches exposing customers’ payment information have resulted in billions of dollars in damages to card issuers. Chip card technology and the EVM standard are expected to help reduce the costs of similar breaches in the future. 

For more information, please contact Ashley Ailsworth at ashleya@sema.org.

By SEMA Washington, D.C., Staff

In October 2015, the major credit card companies will shift liability for fraud onto merchants that do not make the switch from payment terminals that read magnetic strips to terminals equipped with electronic chip-reading technology. The international standard for chip cards and chip-reading terminals is “EVM,” which stands for Europay, MasterCard and Visa—the companies that initiated the move to the chip-based payment system. 

Liability for credit-card fraud has traditionally been borne by the issuer, not the merchant. This shift of liability from issuers to merchants has come in response to the increasing threat of identity theft and fraud. The more secure EVM system allows for immediate authentication without transmission of sensitive information outside the payment terminal. 

Recent high-profile data breaches exposing customers’ payment information have resulted in billions of dollars in damages to card issuers. Chip card technology and the EVM standard are expected to help reduce the costs of similar breaches in the future. 

For more information, please contact Ashley Ailsworth at ashleya@sema.org.

	With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, how consumers purchase their equipment will help product manufacturers capitalize on buyer habits

By Jason Catullo

According to the 2015 SEMA Market Report, consumers make nearly a third of their specialty-equipment accessory purchases online.

With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, knowing how consumers purchase their equipment will help product manufacturers capitalize on buyer habits, identify opportunities to sell through the company’s existing website, and meet aftermarket product demand based on data regarding the most popular vehicle purchases made by consumers.

The $36 billion in consumer spending in 2014 represents an 8% growth over the previous year and the fifth-consecutive year of growth.

Another finding revealed in the report centers around the buying habits of consumers in the specialty-equipment marketplace. The report tracked consumer purchases of specialty-equipment products in 2014, offering insight into where they purchased products, the vehicles that were accessorized and the parts purchased. The report also examined consumer purchases by sales channel, vehicle segment and parts categories, followed by overviews for 43 automotive parts and accessories.

To learn more, download the report.

SEMA market research reports are available to SEMA Members at no cost, and to nonmembers at a nominal fee. Reports are listed and can be accessed at www.SEMA.org/research.

	With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, how consumers purchase their equipment will help product manufacturers capitalize on buyer habits

By Jason Catullo

According to the 2015 SEMA Market Report, consumers make nearly a third of their specialty-equipment accessory purchases online.

With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, knowing how consumers purchase their equipment will help product manufacturers capitalize on buyer habits, identify opportunities to sell through the company’s existing website, and meet aftermarket product demand based on data regarding the most popular vehicle purchases made by consumers.

The $36 billion in consumer spending in 2014 represents an 8% growth over the previous year and the fifth-consecutive year of growth.

Another finding revealed in the report centers around the buying habits of consumers in the specialty-equipment marketplace. The report tracked consumer purchases of specialty-equipment products in 2014, offering insight into where they purchased products, the vehicles that were accessorized and the parts purchased. The report also examined consumer purchases by sales channel, vehicle segment and parts categories, followed by overviews for 43 automotive parts and accessories.

To learn more, download the report.

SEMA market research reports are available to SEMA Members at no cost, and to nonmembers at a nominal fee. Reports are listed and can be accessed at www.SEMA.org/research.

	With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, how consumers purchase their equipment will help product manufacturers capitalize on buyer habits

By Jason Catullo

According to the 2015 SEMA Market Report, consumers make nearly a third of their specialty-equipment accessory purchases online.

With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, knowing how consumers purchase their equipment will help product manufacturers capitalize on buyer habits, identify opportunities to sell through the company’s existing website, and meet aftermarket product demand based on data regarding the most popular vehicle purchases made by consumers.

The $36 billion in consumer spending in 2014 represents an 8% growth over the previous year and the fifth-consecutive year of growth.

Another finding revealed in the report centers around the buying habits of consumers in the specialty-equipment marketplace. The report tracked consumer purchases of specialty-equipment products in 2014, offering insight into where they purchased products, the vehicles that were accessorized and the parts purchased. The report also examined consumer purchases by sales channel, vehicle segment and parts categories, followed by overviews for 43 automotive parts and accessories.

To learn more, download the report.

SEMA market research reports are available to SEMA Members at no cost, and to nonmembers at a nominal fee. Reports are listed and can be accessed at www.SEMA.org/research.

	With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, how consumers purchase their equipment will help product manufacturers capitalize on buyer habits

By Jason Catullo

According to the 2015 SEMA Market Report, consumers make nearly a third of their specialty-equipment accessory purchases online.

With the specialty-equipment industry reaching $36 billion in consumer spending in 2014, knowing how consumers purchase their equipment will help product manufacturers capitalize on buyer habits, identify opportunities to sell through the company’s existing website, and meet aftermarket product demand based on data regarding the most popular vehicle purchases made by consumers.

The $36 billion in consumer spending in 2014 represents an 8% growth over the previous year and the fifth-consecutive year of growth.

Another finding revealed in the report centers around the buying habits of consumers in the specialty-equipment marketplace. The report tracked consumer purchases of specialty-equipment products in 2014, offering insight into where they purchased products, the vehicles that were accessorized and the parts purchased. The report also examined consumer purchases by sales channel, vehicle segment and parts categories, followed by overviews for 43 automotive parts and accessories.

To learn more, download the report.

SEMA market research reports are available to SEMA Members at no cost, and to nonmembers at a nominal fee. Reports are listed and can be accessed at www.SEMA.org/research.

The SEMA Show is the premier automotive specialty products trade event in the world. It draws the industry’s brightest minds and hottest products to one place, the Las Vegas Convention Center. As part of the AAIW, the SEMA Show attracts more than 100,000 industry leaders from more than 100 countries for unlimited profit opportunities in the automotive, truck and SUV, powersports, and RV markets. The 2014 SEMA Show drew more than 60,000 domestic and international buyers.

The 2015 SEMA Show will be held Tuesday–Friday, November 3–6.

The SEMA Show is the premier automotive specialty products trade event in the world. It draws the industry’s brightest minds and hottest products to one place, the Las Vegas Convention Center. As part of the AAIW, the SEMA Show attracts more than 100,000 industry leaders from more than 100 countries for unlimited profit opportunities in the automotive, truck and SUV, powersports, and RV markets. The 2014 SEMA Show drew more than 60,000 domestic and international buyers.

The 2015 SEMA Show will be held Tuesday–Friday, November 3–6.

The SEMA Show is the premier automotive specialty products trade event in the world. It draws the industry’s brightest minds and hottest products to one place, the Las Vegas Convention Center. As part of the AAIW, the SEMA Show attracts more than 100,000 industry leaders from more than 100 countries for unlimited profit opportunities in the automotive, truck and SUV, powersports, and RV markets. The 2014 SEMA Show drew more than 60,000 domestic and international buyers.

The 2015 SEMA Show will be held Tuesday–Friday, November 3–6.