If a small business, your accept credit card payments, and debit cards, then you probably know that the October 1 deadline for the upgrade of the US broker terminals payment them to accept credit cards and technology chip available.
Even though today is more than six months, nearly half of retailers have not updated any of their payment terminals reported that the survey adopted 201 6 credit card EMV compared CardHub.
EMV payment technology provides additional security for credit card and debit card transactions, so you would think that abuse in the past few years will be particularly want to use it. However, some 43% of retailers that have experienced data breaches over the past 5 years to update their POS.
Users have not required technology to EMV. The survey found the widespread ignorance of this technology: 41 percent of these people do not have or do not know whether they have a credit or debit card with chip technology. Sixty-two percent did not know the difference between a chip card and those without in terms of protecting the security. Fifty-six percent do not care whether or not your POS terminal retailers with chip-enabled.
But even if your customers do not care about technology, EMV, you should. Why?
Because if your company has not adopted chip-enabled terminal, your business is financially responsible if there is some kind of credit card fraud occurs during operation with your business. Essentially, failed to get with the times when it comes to technology, EMV is put your business at risk.
Like many other large companies have completed their migration to allow EMV terminals, customers will become more familiar with this technology and increased expectations from your business. With so many other changes in payment technology - such as Apple Pay and other types of mobile wallet technology - now is the best time would be to update your system to the point of sale. And if you were any problems with your payment card processor, maybe it's time to make a clean break and find a new one.
Ask your prepaid card processing terminals, which allow EMV also will work with NFC (near field communication) technology, payment, and you'll be ahead of the game. (Plus, you will not have to upgrade again for a while.)
Want to learn more about how the chip cards affect your business? You can get points webinar to learn more about chip technology and how it affects your bottom line. Or speak with your guide points for assistance. Visit www.score.org to get matched with a mentor and get free advice at any time.