Protect Your Business from Retail Fraud- EMV

Fraud losses totaled $5.2 billion in the US or 7% of transactions according to a CNBC article from July 2015.  There is a proven way to help stop most of this fraud, EMV.  EMV stands for Euro, Mastercard, Visa and was the organization formed in Europe to bring EMV to Europe.  The organization includes all major card brands, today, and it is called EMVCO.

EMV Contactless Card on Ingenico 1CT

What is EMV?  Emv is a chip in credit cards.  That chip, instead of the magnetic strip on the back of cards, is used to communicate with the host to generate authorizations for sales.  The chip uses dynamic numbers to communicate with the expecting host.  If the dynamic number is different than the host expects, the transaction is declined.  It is a much more secure way to process transactions verses the magnetic stripe.

How does it help business owners?  In a retail environment, where cards are presented in a face to face environment, there is a liability switch happening and the deadline is October 1st, 2015.  Generally speaking, if the business has an EMV enabled device and accepts EMV payments, they have zero liability for in person or face to face transactions for reasons including, fraud, lost, stolen, non-activated.

Reasons for upgrading to EMV:

  1. Liability switch, 10/1/15- SAVE on Fraud
  2. More secure transactions
  3. Ability to add new forms of payment, such as NFC (Apple Pay)
  4. Reduction of PCI compliance requirements

The rush has been on to upgrade to EMV.  With the liability switch deadline October 1st, 2015, we have been extremely busy helping businesses understand their options for EMV and additional forms of payment.  We have excellent rates, that save you more money with our exclusive RATE LOCK and our equipment is protected by our Infinite Warranty.  Donup has been working with EMV terminals since January 2013.  Put our EMV expertise to work for your business and get peace of mind for your payment processing.  Give us a call today, 877.651.1655.

Jeremy Ochsner, ETA-CPP

What Do Our Clients Think?

Money shows up the next day.
High ticket transactions are run with no issues or holding of funds.
If an issue arises, it is handled quickly- excellent customer service.
The money we saved, pays for our delivery truck.

Alan R.Nevada
www.consignfurniturenow.com/

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