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What should you know about EMV?
Credit cards with EMV capability or "smart cards", include an embedded microprocessor that provides robust security features and other applications not possible with traditional magnetic stripe cards. EMV transactions utilize "dynamic digital data" in every transaction, resulting in extremely secure transactions with a reduce chance of fraud. Due to the benefits offered by EMV, this technology has become the standard in over 100 countries including Canada, Europe, Latin America and Asia. In fact, according to www.emvco.com, approximately 44.7% of the total payment cards in circulation are EMV cards and 76.4% of the POS terminals installed globally accept EMV. The US is one of the last countries to implement EMV technology. However, Visa, MasterCard, America Express and Discover have all announced plans to move to an EMV-based payments infrastructure in the US by 2015. This means that the card brands will be migrating to this technology going forward and the merchants with me required to accept EMV payments in order to remain compliant with Visa/MasterCard regulations.
These terminal can be up graded by purchase or leasing. Just ask when you speak to a representative. Merchant service D. Hall Enterprise can switch your current services with another company over and get you the new EMV terminal. Existing merchants of Merchant Service D. Hall Enterprise or new customers welcomed. The change needs to be made. Do it now and get it out the way before you wait to long and your current machine does not work at all.