The Importance of an EMV Chip Card Terminal For Your Business

 In Payment Processing

Do You Know Why It’s Important To Have An EMV Chip Card Terminal For Your Business?

It’s no secret that technology is ever-evolving. It’s viable that you and your business keep up, especially when your security relies on it. EMV chip card terminals are taking place of out-dated card payment methods, and there are a few reasons why.

  • Liability: Credit card companies such as MasterCard, Visa, American Express, etc. are no longer held liable for fraudulent charges. The responsibility now falls on the merchant. With the new EMV readers, they have a secure system using the chip reader technology that prevents fraudulent activity using a one-time pin code unique to the transaction.
  • Convenience: EMV readers are small, lightweight, machines that support high-speed internet connections for quick transactions. Their extended memory supports multiple processing applications, and they have a built-in printer. There are even wireless options that support short-range blue-tooth connections.
  • Customer Security: With the chip-and-pin transaction method, it makes it more difficult for fraudulent charges and stolen cards to be used. Customers can have a sense of security in your business knowing that you are taking those extra precautions by updating your payment technology.

Investing in an EMV chip card reader is a worthwhile investment. Not only for the security of your business, but also for your customers. There are various options with a range of prices for different features that would best suit your businesses needs. In 2015 all large banks started issuing cards equipped with a chip. The customers are on board, so you should be too. If you would like to know more about the EMV services, contact us and take that next big step for your business.

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