Oct. 1, 2015 EMV Deadline

Its EMV time.  Are you prepared for the liability shift?

The EMV clock is past. Effective October 1st, 2015 merchants are now liable for fraud, counterfeit, lost or stolen cards processed without an EMV (chip reader) device.

Can you afford the loss?

I can’t.  Send me a copy of your EMV Partner Solutions.

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EMV is finally here – and it's here to stay

EMV is finally here – and it's here to stay

Are you ready…..EMV is finally here!

Great News!  Now you can protect your clients and customers with EMV while implementing the new NFC (Near Frequency Communication) all at the same time! 

It really came to the forefront with the massive Target beach of 2013. The retail giant had over 70 million cards exposed in the short time span between November 27th to December 15th.  This, however, was just the beginning.

In October of 2014 several banks and another big box retailer had a spike in complaints from consumers stating they had been hit with fraudulent charges stemming from another big box retailer; a multitude of retailers from Staples Inc. to PF Chang’s to Sony.   Not to mention the thousands of smaller merchants hit, closing their doors and too small to make headlines.

Think it can’t happen to you? Think again.

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Are you getting worried yet?

Amazing what can happen when you go to the store to pick up some groceries and end up with $1000’s in fraudulent charges and potential identity theft.

So what’s being done to prevent this? How can businesses protect not only you from fraud, but themselves? Remember, when fraud is committed against a retailer, they must find some way to offset the loss. Meaning cut-backs in staff and higher prices in general.

It’s time to take on new security measures — EMV being one. Many changes are happening within the payment industry. Incorporation of EMV cards and compatible POS systems is a must. Not to be confused with NFC (Near Field Communication), EMV (Europay, MasterCard, VISA) will provide extra security to the businesses in the card present environment.

Increasing security, protecting customers and saving money; EMV is coming to a retailer near you and is here to stay.

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What is EMV?
EMV or Europay, MasterCard, VISA (named after the companies that originated the payment standard) is a data-driven process to increase security and protect against fraudulent charges when paying at Point of Sale. EMV is known as a smart-payment system that uses an embedded chip which transfers payment information from a person’s card to the merchant. Already adopted throughout most parts of the world, it has finally come to the U.S.

It’s amazing what a little chip can do
Although small in size, the chip scrambles and decodes your customer’s data every time they pay with EMV.  This data cannot be copied or lifted by a third-party after the transaction.

Here are the facts.

  • Magnetic strips
    Swipe your card at any POS. The data is consistent, meaning it can be easily scanned and copied. With EMV, you pay at the register and your transaction is encrypted. What this means for you is that when you pay with EMV, the chip generates a new distinctive code every time.
  • What happens if you don’t comply with the new EMV standard?
    By October 2015, if retailers have not moved forward with EMV, the merchant and not the financial institution will be responsible for any fraudulent swiped transactions.

What’s next?
Get ready to make the switch — protect your company and customers. Call us today to upgrade.

Can you afford the loss?

I can’t. Send me a copy of your EMV Partner Solutions.

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EMV is finally here – and it's here to stay

EMV and NFC

 

EMV (Europay, MasterCard, VISA)

Are you ready?  What is it?  This technology adopted throughout most parts of the world (Europe, Canada, Latin America, Middle East and so on), the US is one of the last countries to enact in this standard.  It is amazing what a little chip can do to safeguard a loss. When the card is used at a terminal, the data is encrypted by the chip generating a new distinctive code every time.  This way, data cannot be copied or lifted by a third party.

As of October 2015, retailers that have not complied with moving forward with EMV will be responsible for any fraudulent transaction with cards swiped by the traditional magnetic strip. Banks will no longer cover those charges.

Apple Pay equipment

NFC (Near Field Communication)

Do not confuse EMV with NFC (Near Field Communication). NFC is an easy and intuitive technology that allows smartphones to link and share information (tags) with another device, typically at a distance of a few inches or less. These tags securely store data to be used for contactless transactions with a single touch. The smartphones are hitting the streets and major retailers are already accepting Apple Pay and Google Wallet. How will this new technology impact the way you do business? Do you know what to do?

With the emergence of Google Wallet and Apple Pay, now is the time to take your business to the next level. Update your technology today. This may be as simple as a new pin pad, peripheral, or maybe even looking at the Clover Station to grow your business.

We are here to help! It is clear that NFC will be moving front and center for both consumers and business owners.

Can you afford the loss?

I can’t. Please send me a copy of your EMV Partner Solutions.

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Critical Credit Card Terminal Updates

Critical Credit Card Terminal Updates

Is your Credit Card Terminal causing you to lose valuable transactions?  It may be time to update the programming in your terminal or even time to look for a new solution.

Ingenico Credit Card Terminals

The clock is ticking on the Ingenico ICT220 and ICT250 terminals. We recommend that ALL Ingenico devices be updated to the new Trust certificates. Certificates begin to expire in May 2019 on Models V2 and older.

If the Trust certificate expires before it has been updated, your equipment will need to be replaced.  The download of the new file extends the Trust Certificate’s expiration date to the year 2029.

The certificates in these terminals are nearing expiration, and it is only a matter of time before you will experience issues or lose processing capabilities altogether. It is imperative you update these terminals now.

Pax Credit Card Terminals

Your terminal may need an update to accept debit cards. The new EMV chip and PCI Compliance regulations allow the card issuing Banks to determine whether a PIN number is required.  The merchant and/or cardholder will no longer be able to choose how the transaction is processed. Entering a PIN is always the most secure method for processing credit card transactions, and is the best way to verify the transaction is not fraudulent.

Credit Card Terminal Updates or a new POS System will Save Down Time and Money!

Downtime and outdated equipment can cost your business dearly.  Make sure you update your credit card processing terminals when needed.   If your Merchant Processor hasn’t reached out to you to update this certification, call us, and we will be happy to help.

It may even be time to think about replacing your current terminal to a smart terminal to collect data or even a POS (Point of Sale System). A POS System can track your inventory, keep time and attendance for your employees, and also track customers and their spending habits.  The newer POS systems can calculate and pay sales tax and ping you…yes ping you, when someone is opening a cash drawer without a sale occurring. Imagine the possibilities, increased profits and the time you will gain with these new simple to use systems.   Isn’t it time you consider what a new POS system can do for your company?

 

Cash Discounting

Cash Discounting

Save Your Business Money with Cash Discounting Eliminate processing fess Reward Customers who pay with Cash Simple and easy to implememt Stay Compliant with the Associations Get Started “Using a surcharging program is the best thing that has happened to my business....