“Smart Terminal” Posts

EMV Certification Explained

EMV Certification Explained

Wondering what all the fuss is about with EMV-certified terminals? Since the liability shift both providers and businesses have scrambled to obtain compliant equipment. Designed to decrease fraud, the EMV terminal reads the unique, one-time code generated when a chip card is inserted. This is a distinct process that requires a separate slot for inserting a chip card compared to the component used for swiping magstripe cards. Ideally, it’s customer facing and can detect when a chip card is swiped, prompting the customer to insert the card instead. Proper EMV processing protects businesses from bank-initiated chargebacks. Simple enough, right?…

7 Traits to Look for in a Smart Terminal

7 Traits to Look for in a Smart Terminal

Ever since the liability shift, Smart Terminals have flooded the U.S. market. With the major selling point being EMV acceptance, many providers benefit as businesses continue to upgrade their merchant credit card processing equipment. However, a truly “smart” terminal goes above and beyond just accepting EMV. Here are seven attributes that make a Smart Terminal, well, smart. Recognition A Smart Terminal should not only accept EMV but should also recognize when a chip card is swiped. The smartest terminals have the ability to read magstripe data, which indicates whether the card supports EMV. When present, the credit card terminal…

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…

Obtain Non-Payment Signatures With PayJunction’s Smart Terminal

Obtain Non-Payment Signatures With PayJunction’s Smart Terminal

Although the card brands have recently revised their requirements around signature authorization, signatures are still the best defense in the event of a chargeback dispute as long as you’re properly processing your payments. Additionally, there are numerous instances when businesses require non-payment signatures from customers. These include terms and conditions, disclosures, disclaimers, liability waivers, privacy agreements, HIPAA agreements, warranties, etc. In the medical industry alone, this can amount to dozens of forms related to billing, on-boarding, consent, prescriptions, lab reports and care agreements that must be physically stored or scanned and stored online. Paper management takes a lot of…

Rentopian and PayJunction Now Offer Integrated Payment Processing

Rentopian and PayJunction Now Offer Integrated Payment Processing

Event rental businesses have a ton to manage, from tracking the lifecycle of an order to optimizing inventory for maximum profit. It’s no wonder why so many event rental businesses are turning to Rentopian for a seamless software solution. Rentopian is a comprehensive software designed to streamline numerous business needs for event rental companies. In addition to its lengthy list of features, Rentopian recently integrated with PayJunction — an all-in-one Merchant Account Provider and Payment Gateway — to streamline payment processing for these businesses. We’ll dive into the helpful features Rentopian provides along with the benefits of using PayJunction as…