“Smart Terminal” Posts

The Advantages (and Disadvantages) of Using a Credit Card Chip Reader

The Advantages (and Disadvantages) of Using a Credit Card Chip Reader

As credit card, or EMV, chips become more common, so too are the credit card terminals that accept them. According to Visa, 71%, or 511.1 million, of its U.S.-based credit and debit cards now have chips, a figure that represents more than a doubling of chip cards over a three-year period. Across the U.S., 3.1 million – roughly two thirds of – merchants are now EMV-enabled. Even so, credit card chip readers are not a legal requirement for merchants to accept EMV cards (with the exception of merchants who wish to accept contactless payment methods. See below)…

5 Reasons Why You Need a Customer-Facing Terminal

5 Reasons Why You Need a Customer-Facing Terminal

If you’re shopping for a new credit card terminal, it’s easy to feel overwhelmed by your options. Make the wrong choice and you could be in the same position in a year’s time. Changes in payment technology and consumer trends are unpredictable, but some credit card terminals are better suited for the future than others. Without over-complicating the matter with makes and models, we’ll focus simply on the credit card terminal's physical orientation. There are five compelling reasons why you should opt for a customer-facing terminal over a traditional cashier-facing one. The Imminent Rise of Chip…

Why EMV Fallback Is a Risk for Your Business

Why EMV Fallback Is a Risk for Your Business

Let’s paint two seemingly harmless scenarios for you. A customer comes into your business and attempts to pay for a purchase with an EMV chip card. The transaction fails despite your terminal being EMV certified, so you decide to proceed by allowing the customer to swipe his chip card. The transaction can’t be processed properly because your EMV terminal isn’t certified to process EMV transactions or doesn’t have an EMV slot. You work around this by asking the customer to swipe the chip card instead. Great, you got paid! However, both of these examples illustrate an…

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…