Sales Sense Payments

(585)672-6381
Get a Free Consultation
  • Merchant Solutions
    • Point of Sale (POS) Solutions
    • Mobile/Tablet POS Solutions
    • Virtual Card Terminal Solutions
    • No-Contract Payment Processing
    • Next-Day Payment Posting
    • Safe & Certified Check Processing
    • Secure a Business Loan
    • Start a Gift Card or Loyalty Program
    • Get an In-Store ATM
  • Become a Bank Partner
  • Learn More
    • Our Blog
    • How Payment Processing Works
    • What is EMV?
    • Credit Card Processing FAQs
    • Glossary
  • About
    • About The Founder
    • Our 10-Point Guarantee!
    • Referral Program
  • Contact
  • Software Developers

What’s with this crazy chip in my credit card?

June 30, 2016 by Michael Krause Leave a Comment

Tweet

 

What is EMV?

EMV (Europay, MasterCard, and Visa) cards contain a chip in them, in addition to the traditional magnetic strip, that is used to transmit data. Unlike standard magnetic strip, EMV cards create a unique transaction code every time they are used. Each code can only be used once, making fraud more difficult and less likely to occur.

EMV:

·        EMV  has been around since 1992

·        Create universal standards

·        United States is one of the last to adopt the card technology

·        Makes traveling and doing business overseas easier

Increased Security:

·        United States eported $16 billion in credit card fraud in 2015

·        EMV can help protect both consumers and businesses

·        Fraud losses for brick and mortar retailers dropped 60% in the UK after adopting EMV technology

How to Process EMV Transactions:

·        EMV is a card-present technology that can be processed by contactless, PIN or signature.

Financial Responsibilities:

·        October 2015 when a fraudulent transaction occurs, whichever party (Merchant/Processor/Card Issuer) is the cause of the contact chip transaction not occurring will be held financially liable for any resulting card present counterfeit losses.

How to protect you and your business:

·        Make sure that you have an EMV compliant terminal, if not you will be held liable for losses.

Contact us for a quick review and protect your business today!

 

Filed Under: emv

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FREE

EMV Compliant Terminal

Recent Posts

  • Understanding Credit/Debit Card Chargebacks
  • Getting Comfortable with Digital Meetings and Presentations
  • Do Merchants Benefit With Groupon?
  • Combat Covid with Contactless Payments
  • Free Credit Card Processing! (Not April Fools :))
  • Online Ordering Benefits and a Limited Time Offer

We offer a range of consulting services, all designed to help your company reach its potential. Whether you’re looking for a small tweak or complete overhaul, we have you covered. Our services are available a la carte so you can get precisely what you need.

Authorize.Net Preferred Reseller
“Michael has implemented Strategies to Save Culligan Water Thousands per Year. Michael is a Professional Sales Leader and his Business Intelligence is Outstanding.”- ANDREW HOLDEN, President/ CEO at Culligan Rochester
“Mike Krause has been an invaluable asset to me and my company over the years. He brings cutting edge ideas to the his clients and has the unique ability to work hand-in-hand to integrate them with the overall goal of profitability in mind. I highly recommend Mike to anyone looking to grow their business.”- DOUGLAS IRWIN, Insurance Sales at Siegel Insurance
“Sales Sense Payments is a professional, efficient, accurate, low-cost credit card payment processing system.”- PAT W., CPA – Rochester, NY
Contact Us Today!

(585) 672-6381

Privacy Policy

Copyright © 2021 · Sales Sense Payments · Rochester, NY 14618