The Shift to EMV Smart Chip Credit Cards

What Does It Mean for Your Business?

As identity theft and information security breaches become more common, credit and debit card companies are taking action and shifting to EMV chip technology. EMV smart chip credit cards (Europay, MasterCard, and VISA, or smart cards/chip-cards) are a safer, more effective way for
Credit Card Processing, Card Processing, Merchant Services, Accept Credit Cards, Credit Card Processing Fees, Merchant Account Providers
EMV Card Processing
consumers to pay with their credit or debit accounts without compromising the security of their sensitive information. It’s an attractive option to buyers, and now with the shift in fraud liability from the processing of magnetic stripe data, it is becoming necessary for sellers as well.
So what are EMV chips, and how do they work?
EMV smart chip credit cards rely on a two-step authentication process. First, the chips, which cannot be cloned, send a unique, one-time code before the card can be processed. The pin entry by the user provides the second step. Combined, the security precautions reduce fraudulent charges and stolen information dramatically.

Why should small businesses get on board with EMV chip readers?
Starting October 1, 2015, any fraudulent charges made as a result of a card terminal which does not process the EMV chip will be the responsibility of the merchants with that terminal, not the card company. In other words, if you aren’t adopting EMV, the safest method of payment, you are taking a chance with every electronic payment transaction you make. With 100 million EMV cards to be issued by the end of this year and over 1.1 billion by the end of 2015, now is the time to upgrade your equipment to ensure a smooth transition.

Credit Card Processing, Card Processing, Merchant Services, Accept Credit Cards, Credit Card Processing Fees, Merchant Account Providers
EMV Compliant Equipment

How can Quantum Merchant Services help?
Quantum Merchant Services have many Small Business Specialists that work with small business owners to identify their specific goals and needs. By helping you ensure that your electronic payment processing and Point of Sale (POS) equipment is up to date, they give you the tools to manage money flow and help your business succeed.



Quantum Merchant Services
7300 Hudson Blvd N
Suite 255
Oakdale, Mn. 55128
1-800-815-3123

Credit Card Processing, Card Processing, Merchant Services, Accept Credit Cards, Credit Card Processing Fees, Merchant Account Providers

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