October 2015 is getting closer and promises change for processors and retailers alike. Fraud risk has never been higher and we want to make sure our customers are up to date with the ever evolving changes in the ATM and Payment Processing world. It’s commonly known that tens of millions of large merchant customers have been left victim to credit card information theft in recent years and with the major retail and restaurant locations in the news we want to make sure our customers are educated about current trends. EMV (Europay, MasterCard, Visa) technology, made safer with a computer chip (and possibly a PIN requirement), is looking attractive to brick and mortar retailers as the stories hit closer and closer to home for local businesses. We have ramped up options that will best fit you our customer, and have sound advice for your equipment needs. What is also clear at this juncture is that magnetic stripe cards (without the chip), will be less desirable to merchants given that liability for fraudulent transactions will likely fall on the merchant if that business has not implemented a EMV capable system of some sort. If, on the other hand, the bank has not issued a chip embedded card to the purchasing consumer, the bank will be liable for fraudulent charges. This suggested protocol is for all parties to get involved and implement the systems.
EMV payment processing deadlines are around the corner and we want to let our customers know that we are here to assist with customer needs and questions regarding EMV. A great resource is www.emv-connection.com, or just call us at the office and ask for a member of the sales team.
Retail Profit Systems, Inc