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EMV Implementation Tips

As more and more industries enter the EMV realm, there are both joys and challenges of having the EMV option. Customers and business owners can enjoy the security of EMV chip-cards to reduce fraud by protecting against loss from counterfeit stolen cards. Customers and business owners must also adapt to this new way to pay. When EMV is available to your business, know your device and teach your staff about it so they can help customers through the steps of an EMV transaction.

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Cards with a mag-stripe and an EMV-chip will exist simultaneously until all merchants have EMV-capable devices and until all banks replace all existing mag-stripe cards issued to their customers with an EMV chip. Some devices have the EMV terminal slot, but it doesn’t function.

TIP: If you have a non-functioning terminal, make a sign or insert a placeholder to let customers know if EMV is not available. Some examples of sayings are, “Please swipe card,” “Swipe card here – Chip card functionality coming soon,” or “Please swipe; Do not insert card.”

Because the cards in use today have both a chip and a stripe, people may swipe their card first out of habit. If EMV is enabled on the device, it will reject the swipe and tell the user to insert their card instead. Once a person inserts their card (also called “dipping”) with the chip-end first, facing up, they need to wait to remove it until prompted to do so. While the card is inserted into the terminal, the chip Read full article >

Businesses Must Know About EMV

The New Chip Technology

What is EMV?

EMV, commonly referred to as chip technology, is the future of secure bank and credit card transactions in the United States that will greatly reduce the threat of fraud from counterfeit, lost and stolen cards. Basically, EMV is a set of specifications for smart card payments and devices that accept those types of payments. Those specs are then embedded into a microprocessor chip embedded on a bank or credit card. The technology and specifications are widely used in over 80 countries globally as the standard for secure card transactions versus the traditional magnetic swipe card in the U.S., which has been plagued with security issues for years. EMV also provides interoperability within the global payments infrastructure and EMV-compatible terminals making it easier for U.S. issued cards to use for secure transactions worldwide.

EMV Chip Card

When will EMV be Adopted in the United States?

As mentioned earlier, EMV standards have been in use worldwide for several years. Major card issuers, including American Express, Discover, MasterCard and VISA have announced their movement to EMV cards within the U.S. by October 2015. This will greatly increase cardholder protection against fraud and the compromising of data for most U.S. cardholders. For a list of United States credit and debit card issuers who have announced plans to issue EMV payment cards, visit http://www.emv-connection.com/u-s-emv-issuers/. It is important to note that introducing this particular technology into Read full article >