MiCamp Solutions Recommends Retailers Update POS Terminals for EMV Adoption

PHOENIX - May 23, 2015 - PRLog -- As the infrastructure for credit card processing is set to shift on October 1, 2015 with the EMV deadline, MiCamp Solutions recommends retailers become EMV compliant to avoid liability costs associated with fraudulent credit card transactions. Major credit card issuers, including Visa, MasterCard, Discover, and American Express, are requiring retailers to update payment processing terminals to support EMV technology. For retailers who fail to adopt EMV, they will be held liable for fraudulent charges starting October 1, 2015.

Credit card issuers are moving to adopt EMV technology as the U.S. standard for credit card transactions as the chip-based technology offers higher fraud protection for customers when compared to magnetic strip payment methods. EMV technology involves the use of encrypted data stored in a chip that’s used to verify the cardholder during transactions. This technology reduces the occurrence for counterfeit cards and security breaches with “Chip and Pin” verification.

In light of the success of EMV technology being the standard in Europe, resulting in the decrease of credit card fraud, U.S. credit card issuers are moving the U.S. in the same direction. With large credit card security hacks and credit card fraud increasing over recent years, the October deadline will cause retailers to adapt to EMV technology to increase credit card safety for customers. Retailers who fail to adopt the new standard will now be held financially liable for any credit card fraud.

To become EMV compliant, retailers will need to update existing payment processing terminals, which will cost an average of $500 to update the terminals. MiCamp Solutions recommends retailers take action immediately before the October deadline to protect their business from costly charges and to protect customers from fraud.

MiCamp Solutions offers a variety of payment processing terminals and solutions to help retailers adopt the new technology to abide by the new industry standard to protect customers and their businesses.

About MiCamp Solutions:
MiCamp Solutions has been a leader for revolutionizing business performance for merchants in an array of industries since 2006. With vast knowledge and expertise in payment processing solutions and through the support of strong relationships in the industry, MiCamp Solutions strives to deliver comprehensive product solutions to improve business functions and streamline performance.

Contact:
MiCamp Merchant Solutions
6930 E. Chauncey Ln. #210
Phoenix, AZ
888-552-1522
www.micamp.com