At Merchant Link, we work with customers every day that are trying to get their POS or PMS systems EMV ready. The solution the merchant wants involves taking a chip transaction, moving the liability of the transaction back on to the card brands, and helping the merchant securely answer the PCI SAQ audit that the merchant may go through from time to time.
Researching and evaluating EMV solutions is currently on many hospitality and retail organizations to do list. In most cases, those organizations spend appropriate time reviewing and evaluating gateway providers, processor options, PED (Pin Entry Device) manufacturers, as well as any costs associated with the solution. While all those things are clearly important, there are a few other considerations your organization should be sure to evaluate.
As reported by PYMNTS.com https://www.pymnts.com/mastercard/2017/mastercard-ditches-cardholder-signatures-for-transactions this morning, MasterCard announced that, effective April 2018, they will no longer require signatures for payment processing.
Happy National Cyber Security Awareness Month!
As you are looking to secure your payments with tokenization and encryption, don’t forget about the little best practices that help to keep your data safe. One of the most overlooked practices is a strong password.
In September 2017, Atlanta-based major credit reporting bureau Equifax reported that it had experienced a cyber-attack earlier in 2017, leading to a series of wide-reaching data security breaches from mid-May through the end of July 2017.
As the adoption of EMV Chip technology continues to grow, it is important to understand the advantages of EMV and when EMV is applicable. EMV mainly protects merchants from fraudulent and counterfeit activities in card present scenarios.
In the late 1990’s, the push for credit card transactions was to upgrade from “dial up” to Internet. It required an upgrade to systems, which many merchants felt was just onerous. Once adopted, however, it became clear that this technology was far superior to the old technology, and the public quickly expected merchants to offer the faster transaction speed.
“Think Of Yourself As A Customer.” That was the phrase above every doorway, yes, even the bathroom, of the first place I ever worked. It may seem trite, but working there for a number of years it was evident that every individual in that building and the offices overseas used it as their guide as they went about their daily work lives; whether that customer was internal or external, they all received the level of service that each person would want to receive if they were the customer.
According to new figures out from EMVCo, there were a total of 6.1 billion EMV cards in circulation worldwide as of the end of 2016. That represents an increase by about 1.3 billion cards over the last 12 months.
Restaurants and hotels were unsure how they would be impacted by EMV when the announcement came out with the date for the liability shift. Many reflected and made the assumption that it was akin to PCI’s initial mandate for PCI compliance, when in reality it isn’t. Here at Merchant Link we’ve worked hard to dispel the rumors of what EMV is and what it isn’t, and when it makes sense to implement.
8401 Colesville Rd. Suite 750
Silver Spring, MD 20910
301.562.5000
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