EMV Technology Blog Posts

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HOW DOES EMV LIABILITY SHIFT IMPACT MERCHANTS?

Closeup shot of a woman passing a payment credit card to the seller. Girl holding a credit card. Shallow depth of field with focus on the credit card.

According to the Paychex Inc. Small Business Survey, restaurants and retailers have the highest level of awareness of EMV and its liability shift among other merchants. Paychex Inc. is a New York-based payroll and tax-service provider. More than 760 small-business owners participated in the mentioned survey between Oct. 14 and Oct. 27. Retailers and restaurants together made up 69% among other participants and were well aware of the EMV liability shift. Merchants who were well equipped to accept EMV transactions counted for 29 percent as compared with 49 percent of merchants involved in the restaurant and retail industries. Merchants representing […]

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Is Your Business’s POS System Compatible with EMV Technology?

Payment on a credit card through the terminal

If you were completely unaware of the October 1, 2015 EMV card deadline, don’t feel bad. You are not alone. However, you should be aware that if you have not prepared for the conversion to chip-and-pin technology, your small business could be at risk. According to a recent survey by small business community Manta, 28% of small business owners reluctant to adopt chip technology explained that it was because they did not know what EMV technology is. If you are part of that 28%, there are some things about EMV you need to know. EMV (Europay, MasterCard and Visa) cards […]

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EMV Adoption is Off to a Rough Start | Is Your Business Prepared for the Shift?

Paying with credit card

Leading up to the October 1, 2015 EMV liability shift deadline, experts cautioned that the U.S. was not as prepared for the EMV adoption as it should be. Now that the deadline has come and gone, it is evident that the adoption of EMV has indeed suffered. Why? The pure lack of education concerning EMV is responsible. The new smart chips, embedded with EMV, are intended to make credit card fraud less likely. The rest of the world has already adopted EMV. The U.S. is the last, major market to do so. The risk that merchants have in not updating […]

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Subscription Merchants Hit with EMV Problems

Stress And Still Working

While EMV cards promise consumer security, they are coming with a big cost to some subscription service merchants. When new cards are issued, new numbers are issued, thus voided the old payment methods for customer subscriptions. If a customer forgets to change their card information, a chargeback can hit the merchant, causing a world of chaos. Since those in the subscription services are already considered “high risk”, this brings an added weight to the industry. While the majority of people will change their card info for subscriptions, some do not. Some forget, or some simply do not think that it […]

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Online Retailers Wait for Impact Following October EMV Migration

online shopping

The month EMV migration was to roll through the U.S. is here. October 2015 was the date given for the shift to occur and for the industry to, hopefully, see a significant reduction of fraudulent activity within the card-present (CP) environment. However, the EMV migration carries with it a new concern. The expectation now is that the card-not-present (CNP) and the online purchase environment will experience a hit. In pre-EMV America, the most prevalent type of fraud was from counterfeit, lost or stolen magnetic-stripe based cards. These cards became an easy mark for hackers attempting to break into retail POS […]

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How EMV could Potentially Impact Online Retailers | High Risk Merchant Account

Close up of credit card on a white background

The long awaited EMV migration, set to roll through the U.S. October 2015, is finally here. The expectation has been that the payment industry will see a significant reduction in fraudulent activity, especially within the card-present (CP) environment. At the moment, in pre-EMV American, the most prevalent type of fraud stems from the loss or a stolen magnetic-stripe based card. As seen in the cases of the Target and Home Depot’s cyber-attacks, this theft or loss has become any easy mark for hackers who attempt to break into retail POS systems. However, the EMV migration does not carry a promise […]

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Corporation Executives Reveal Their Doubts Concerning EMV Credit Cards

Blank credit card

There are major doubts concerning the changes in credit card technology. In fact, Wal Mart assistant treasurer and senior vice president, Mike Cook, went as far as calling the new implementations a “joke”. Why? The basic technology, already used widely through the rest of the world, is being introduced in the U.S. with a significant flaw. While the rest of the world has successfully been using (EMV Technology) chip-and-PIN, banks that enable the chip technology will only require signatures. The push for this new technology was to reduce the potential for credit card fraud. However, the implementation of chip-and-signature instead […]

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New Concern is that Chip-and-Signature is actually “Worthless”

Many were hoping that the implementation of EMV would play a major role in shutting down the spike in fraudulent activity that has affected so many consumers in recent years. It was reported that 56 million cards were compromised in the Home Depot breach of 2014, and 40 million debit and credit cards were compromised in the Target holiday breach. While the hope was that the U.S. would move to the chip-and-PIN system, the migration to chip-and-signature cards has left many feeling there is much to be desired. Mike Cook, the senior vice president and assistant treasurer for Wal-Mart called […]

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EMV Implementation Deadline Leads to Concerns over Fallback at Terminals

With EMV chip card payments finally moving into the United States, many are asking what part fallback will play during the implementation process. Fallback occurs when an EMV card is inserted into an operational EMV point-of-sale terminal but the card’s backup magnetic stripe is used instead of the chip. Fallback is not a new issue in card payments. We have probably all experienced it at one time or another. If a magnetic stripe does not work, the clerk may have to manually enter the card’s account number into the terminal. If that fails, the clerk may have to speak with […]

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PCI Council Updates Standards in Preparation for EMV Implementation

Troy Leach, the chief technology officer of the PCI Council, has expressed that the Council plans to keep a close eye on certain issues beyond 2015 with the coming of EMV chip cards to the United States. Specifically the open protocols and software security within terminals. In a move to strengthen point-to-point encryption and card readers, the PCI Security Standards Council has begun the process of examining and updating its standards. According to Digital Transactions, the update builds on Version 4.0 of the PTS POI standard. Introduced two years ago, Version 4.0 called for more testing of card-accepting devices. It […]

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