Merchants and consumers alike are becoming familiar with the new EMV, commonly known as  pin and chip, credit card processing procedure.  The deadline for merchants to have this implemented was October 2015. According to Visa, “there are now more than 1.46 million chip-enabled businesses and 363 million chip-enabled Visa cards, making the U.S. the largest Visa chip card market in the world. The number of Visa chip transactions surpassed half a billion in the month of August, representing a 1,000+ percent annual increase. The United States processes 25% of the Worlds credit cards and is responsible for roughly over 50% of credit card fraud. Next time you’re helping a customer or checking out at a store be thankful for that extra few seconds it takes to process the transaction because your credit card company is working to protect your personal data.

With these new safety measures in place, fraud still remains a real threat. Most fraudulent transactions are completed via online purchases or over the phone.  Many of these types of card-not-present transactions are still being processed at most businesses. Solutions to reduce these types of fraudulent charges are being worked on so businesses and consumers can reduce these types of transactions from occurring. Call us today for more secure processes.

One of the most common places for credit card fraud to occur is at pay-at-the-pump gas stations.  Most require a zip code to process a transaction, but if your wallet or purse has been stolen, that information is likely on your driver’s license.  An even larger issue is  “skimmers” installed on gas pumps or ATM machines.

These devices are attached over the initial swiper.  It then gathers your credit card information, and in some cases even your recorded key punches. This recording could then reveal the corresponding PIN number or zip code needed to be able to process a transaction. If the card reader looks suspicious, “DON’T USE IT!” A good rule of thumb is to check the point of card insertion by slightly pulling on the reader to check if it is loose or possibly able to be pulled right out.  The EMV, chip card deadline for pay at the pump won’t go into effect until October 1, 2017.

Beginning October 1, 2016 everyone should start seeing safety seals on the pumps to assure that the pump hasn’t been tampered with. This is certainly a step in the right direction, although if a thief is able to install a skimmer how difficult would it be for them to recreate a tamper label? Our best recommendation for the safest transaction is to go inside and pay until pumps are chip and pin capable. Here’s a clip that discusses pump tampering measures.  If you own a gas station, give us a call and we can make your business more secure at the pump.

Card Systems believes knowledge is power. If you have any questions regarding secure payment processing feel free to contact us at 866.207.3298 or drop us a note via email