EMV Chip Card Payments

EMV Chip Card Payments in Bluffton and Hilton Head, SC

Europay, Mastercard, and Visa, the three credit card giants, have set a global standard for chip-based security called the EMV Chip Card. This technology offers more security against counterfeit fraud than the traditional magnetic stripe cards by storing more information such as encrypted data, which can help prevent counterfeit card fraud.

Proudly, a provider of electronic merchant solutions, have products that you can use in your business to facilitate EMV Chip Card Payments in Bluffton, SC. But more than just processing payments, we help your business support great causes.

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Questions About The EMV Chip Card

How Do EMV Chip Cards Protect Against Fraud?

Magnetic stripe cards are easy to clone. Criminals may get a hold of your credit card number and place it on a blank card, then use it to make in-store purchases. They are likewise susceptible to skimming, wherein the payment terminal is compromised by placing a skimmer that copies credit card data. This will allow the criminal to sell the data or use it for themselves.

EMV prevents this by requiring the original version of the card upon payment as well as using a one-time, unique code for every transaction used with the card. This means that even if a hacker does get access to that code, they will not be able to use it for other transactions.

What Do EMV Chip Cards Mean For Businesses?

Businesses are encouraged to use terminals that process EMV cards so that they are protected against charges due to fraudulent transactions. Aside from costly fines, you also risk losing the trust of your customers.

Does My Business Really Need to Have An EMV Chip Card Payment Processor?

Although EMV is not mandatory, it is here to stay, so it’s a definite yes. Besides, it’s the smart thing to do since it not only protects your customers, it protects your business as well. Think of it this way, the charges for one case of fraud is likely to equal to the cost of an EMV terminal. You might as well invest in one rather than take the risk and suffer the consequences.

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