EMV technology Blog Posts

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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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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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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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Visa Provides Merchants with Profit Saving EMV Toolkits

October is the deadline for full conversion to EMV-chip based credit and debit cards. As card makers and retailers scramble to meet the deadline, many consumers and merchants have been left in the dark as to how the conversion will affect them and their transactions. As a result, some card providers have stepped up to the plate and invested in information kits to assist merchants with any questions they may have. One of these providers is Visa. The company wants to ensure that its merchants know how the technology works and how to best utilize it at the point of […]

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The number of EMV Chip Cards in the US Estimated at 800 Million by End of Year

A survey of the changing trends in the card payment industry has projected that approximately 800 million payment cards that include the debit and the credit cards are likely to have the EMV chips. For many people around the world, these Europay, MasterCard, Visa (EMV) debit and credit cards are not just a preference, they are basic requirement. The increased levels of technical fraud that threaten the safety of people’s identities and expose merchants and clients to the risk of great financial losses has made the need for EMV cards even more urgent. The promise to have debit and credit […]

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EMV Cards Are Headed to over a Million More Wallets in the USA

By October 2015, all domestic debit and credit cards will feature EMV technology. This technology, which consists of a chip and PIN number, replaces our current signature cards. These cards are already popular in Europe, and have a low hacker percentage. This is great, since there has been a rash of hackings in the USA. While this change has been coming for years, it was hurried thanks to the massive Target and Neiman Marcus data breaches in December 2013. It is estimated that over 10 million customers in the United States and Canada were affected by the hacking. That was […]

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