EMV Capable Credit Card Terminals for Your Small Business
The vast majority of credit card users switched over to chipped cards by the middle of 2017. Most consumers associate these EMV capable credit card terminals with added security and protection from theft. If you haven’t updated your store’s credit card processing equipment to work with these chip cards, here are three reasons to do so now:
1. The liability for preventing credit card theft may fall on you.
When credit card companies switched their card design to incorporate EMV chips, it was decided that the liability for credit card fraud would fall on the business owner if they failed to upgrade to EMV capable credit card terminals. While incorporating EMV chip readers into your equipment isn’t legally required, that declaration means you could have a legal fight on your hands if a claim is made against a fraudulent card transaction. If your store accepts credit cards and you see that a lot of your customers have switched to chipped cards, it’s time to make the switch, too.
2. The equipment has passed certification.
When stores were first converting their equipment to read EMV chips, the certification for some systems wasn’t complete. EMV capable credit card terminals didn’t just need to be able to interact with the chip, it needed to meet certain standards to be ruled as EMV-compliant. But now that the rush has passed, you have your pick of EMV-compliant card readers.
3. Not having the readers makes customers think twice.
Running a small business already has enough disadvantages when you’re competing against major chains. But if you don’t have a card reader that incorporates the chip, some buyers are going to think twice about making a purchase. This is even truer as younger buyers adopt the chip as the norm, even though older consumers may be more indifferent. Don’t let changes in the credit card world leave your business behind.
Contact Premier Business Advantage today to see what EMV capable credit card terminals are available to protect your business and its customers.