EMV is here.. Get your Business ready..
Do you need to upgrade your Business to accept EMV payments?
EMV (Europay MasterCard Visa) was invented to reduce fraud at the point of sale using chip-based smart cards for authentication. It gives complete security against:
- Skimming And Counterfeit – through the use of cryptography.
- Dynamic protected value individual to every transaction.
Since 1993 EMV cards have been used all over the world, and have been a significant factor in reducing card-present fraud. The technology behind EMV makes it practically impossible to copy a card, which dramatically reduces your chance of accepting a counterfeited card.
Update your credit card equipment to accept EMV
We are more than happy to help your Business get ready to take EMV credit and debit card transactions. It may demand a new EMV terminal. Fortunately, we’ve covered you with our Terminal Placement Program. We’ll give you a brand new EMV terminal for next to nothing.
How Does EMV Work in Terminals?
- First, the chips inserted in the card contains encrypted data, which is obtained by the reader in the terminal.
- Second, the terminal sends a code, or a “cryptogram” to the processor during the transaction, authenticating the cardholder and the card.
- Third, EMV cards can be either “contact”, requiring insertion into the terminals, or “contactless” where the card can be held near the terminal or hybrid.