A new form of digitally secured credit card, the EMV card, is the next in a long series of attempts to cut back on credit card fraud and identity theft. By including a microchip in each card, and requiring that chip to be authenticated in addition to the current means of credit card authentication, it creates another layer of safety and security that is much more resistant to hacking and identity theft. These cards have long been the standard in Europe, but now the major credit companies are finalizing a plan to move to the new microchip embedded cards as the new credit standard across the United States.
Why should this change impact how you do business? Aside from offering a safer and more secure way to complete transitions, international credit agencies including MasterCard, Visa, American Express and Discover have all made October 1 of 2015 the due date for retailer compliance with EMV equipped credit cards. After that date, the liability will be shifted to the retailer if their machines do not support EMV technology. This means your business could be held responsible for any fraudulent purchase made there, exposing you to any variety of civil claims and untold dollars of damages. Protect yourself and your business by ensuring that EMV credit card processing technology is in your stores, and that your staff is fully trained on how to deal with these new security measures when they do arise.
Farmers & Merchants can help you stay on the cutting edge of credit card security and secure transactions. Let us provide you with the hardware and tools you need to make sure that your business isn't exposed to fraudulent activity. We can help make sure that your company is compliant with all financial security regulations and transaction security measures, so when the liability shift comes, you can sleep soundly knowing your company has done all it can to fight credit card fraud and identity theft.
The transition to EMV credit cards (EuroPay – Mastercard – Visa, or “chip cards”) has been in effect for several months now, and yet many smaller retailers and restaurants have not taken advantage of the new technology and limited cost saving available to them during the transition phase. Worse still, these businesses have put themselves at significant risk for lost or delayed credit card payment processing, as non-emv compliant terminals might tag EMV cards as fraudulent if the appropriate security mechanisms are not in place.
Act now to prevent your business from having your cash flow interrupted due to EMV credit card processing, and keep your business from being on the hook for potential fraudulent credit card purchases.
Farmers & Merchants is one of Northwest Ohio's leaders in EMV credit card processing and EMV credit card terminals. We can specialize in helping get your small or medium sized business changed over for the new technology, and help you continue to accept credit card payments as easily as before. We've worked with hundreds of businesses across America with the credit card processing and the EMV credit card change-over process, and we can help you continue to do business without worry about credit card fraud or updating technology. Call one of the nations leading EMV credit card processing experts at Farmers & Merchants to find out how we can help today.
For more information about EMV technology and how NPC can help get your small business ready to accept the new EMV credit cards, check out our EMV page located here. Or, to find out if Farmers & Merchants can help get your business up and accepting the new EMV credit cards, call our expert customer service representatives today at 800-451-7843.