What Does EMV Mean To The Merchant
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What is EMV and what does it mean to me the merchant?
As a merchant, if you are EMV compliant then you are able to process a payment made by chip-based payment card, which commonly referred to as a smart card. Merchants that are able to process a smart card are subject to a much smaller liability as the extra level of authentication protects merchants from being responsible for payments that are made with stolen or counterfeit payment cards.
It’s a matter of time, before there is an official EMV or chip-based payment card standard in the United States. The reality is that there is plenty of reasons for any merchant currently accepting credit cards to investigate updating their payment processing systems to be EMV compliant with one of the biggest reasons being their own customer’s satisfaction.
The cost of acquiring a EMV compliant POS system will vary depending on the features, functionality, quality, software, and other factors that merchants may need or want for their particular business. BankCard POS will be glad to consult with any business owner that is looking for an EMV compliant point-of-sale system and determine what the best solution is available for their particular business needs. BankCard POS is able to make sure that all of your payment processing transactions are EMV compliant insuring that our merchant partners have very limited liability for any funds that you accept from loss, counterfeit, or stolen payment cards.
BankCard POS can work with single location or nationwide businesses and will provide each with equal enthusiasm in establishing an EMV compliant merchant account or Point-of-sale solution. BankCard POS is adept at working with merchants of all sizes and finding the best payment processing and point-of-sale solutions for businesses with vastly different needs.
EMV is a technical standard for the credit card processing industry that was created in a joint effort by three of the largest credit issuers in Europay, Visa, and Mastercard. EMV was designed to insure that chip-based payment cards, more commonly known as smart cards, are compatible with credit card processing terminals around the world.
These new EMV cards and terminals are great, because they use more levels of authentication for a credit or debit card purchase, which means less fraudulent charges from counterfeit, stolen, or lost payment cards at the ATM or point of sale in local businesses.
However, the initial cost that can come with switching over to the new terminals is expense that a lot of small business owners are less than thrilled about with good reason. A lot of business owners are still paying for or recently paid off point of sale terminals that their business is currently using.
Our Chicago area based payment processing and point-of-sale solution company is able to help merchants across the nation whether they’re in large cities like New York or Los Angeles, or in a small stop along the interstate in the middle of nowhere find the right EMV compliant payment processing solution for their business at the best cost available anywhere. We have financing options available for any merchants even those with less than ideal situations.
BankCard POS takes your payment processing needs seriously and takes pride in being able to provide top end service at whole sale pricing. Our combination of service and pricing is so good that many payment processing resellers and POS system dealers across the country resell our Point-of-sale solutions. We have an extensive value added reseller (VAR) and Independent Sale Office (ISO) network across the country and can more than likely have one of resellers come out to your business for a face-to-face consultation at no charge to you the merchant. All of our resellers and ISO partners have been trained and educated on EMV and should be able to answer any of your questions concerning POS systems, merchant accounts, or other point of sale topics, but support is always just one call a way as well.