“EMV” Posts

EMV Liability Shift: Explained

EMV Liability Shift: Explained

The EMV liability shift refers to the 2015 transfer of responsibility for fraudulent losses from the card brands to businesses in cases when the fraud occurred on an incorrectly processed chip card. There is an entire underground economy powered by stolen credit cards. With traditional magnetic stripe cards, a fraudster could simply obtain one, make copies using a cheap machine and hire people to go shopping. The credit card issuers (MasterCard, Discover, Amex and Visa) were liable for these unauthorized transactions, resulting in losses that exceeded $16 billion in 2014, according to WalletHub. The staggering losses encouraged the card issuers…

What Is EMV Credit Card Processing?

What Is EMV Credit Card Processing?

EMV credit card processing entails a series of steps to authenticate a payment by ‘dipping’ or ‘inserting’ an EMV-chip card. To correctly process an EMV credit card, a level-3 EMV certified card reader is required. To achieve proper EMV credit card processing, you must take a number of pre-transaction steps. Depending on your role in the payment process, these steps may be extensive or non-existent. EMV Credit Card Processing Preparation Merchant Service Providers A Merchant Service Provider is an organization that issues individual merchant accounts to businesses processing credit cards. Typically, a provider will also offer the equipment needed to…

Things to Know Before You Buy Credit Card Readers

Things to Know Before You Buy Credit Card Readers

If there’s one thing to take away from this post, it’s that all card reader are not made equally. Despite looking similar, they vary greatly in features, business benefits and cost. Before investing in credit card readers, you should have a thorough understanding of them. Most importantly, you should be aware of the red flags to look for when shopping to ensure you’re purchasing credit card readers that will be a long-term investment for your business. Here are six things to absolutely avoid when shopping for credit card readers: No EMV certification: With the liability shift nearly…

How to Process Credit Card Payments After Signature Rule Change

How to Process Credit Card Payments After Signature Rule Change

In late 2017 and early 2018, the card brands revealed a major change to their long-held signature requirements for credit card transactions. MasterCard, Discover and Amex announced they would no longer require signatures for magstripe and EMV transactions beginning in April 2018. Visa announced that signatures would still be required in the event of a chargeback dispute for magstripe transactions, but would be optional for EMV. There are a few motivations for this protocol change. The card brands want to reduce payment friction and hope that eliminating a step in the payment process will entice merchants to upgrade to EMV-ready…

How to Make Your Veterinary Checkout Process a Breeze

How to Make Your Veterinary Checkout Process a Breeze

Managing the front office of a veterinary clinic can quickly turn into a zoo (pun intended). You may have clients and patients waiting to check in, some waiting to be seen, and others wishing to check out after a checkup or procedure. You may not know the total bill for a visit until the end of the appointment, which means clients have to wait in line to pay when they really should be focusing on their pets. With old-school credit card terminals, it’s impossible to accept payments during check-in, requiring you to do it at the end of the…