EMV Compliance for Credit Card Terminals

DENVER - May 29, 2015 - PRLog -- On October 1st, 2015  if a merchant accepts a credit card with an EMV chip, and the transaction is fraudulent, then the merchant will be financially liable for the costs. So merchants need to act…now. They need to upgrade their point of sale systems.  They need to be smart and learn about EMV for their own success.

EMV cards with chips have been used in Europe (http://www.forbes.com/europe-news/) and other parts of the world for years. It’s an industry standard that’s used to fight fraud. It takes a different kind of reader to process the card (you don’t swipe anymore, you insert). The chip has encrypted data about the customer and the transaction which makes it much more secure because it’s very difficult for someone to make duplicate copies of a card and counterfeit them (80% of credit card fraud is caused by counterfeiting). At first customers will be asked to sign – that’s called Chip and Signature.  Soon  we’ll all be asked to enter a PIN (Personal Identification Number).

It's easy to purchase a EMV compliant terminal or utilize a Free Terminal program with most credit card sales organizations.