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EMV Chip Cards

What does the changeover
means to you ?

What does the
Changeover mean to you?

If your business accepts credit cards in person, and you do NOT have an EMV terminal, all liability has shifted to your business. Previously it has fallen on the issuing bank.

1

EMV (Chip Card) is a fraud-reducing technology

that can help protect merchants and consumers against losses from the use of counterfeit and lost or stolen payment cards at the point of sale.

2

Chip cards use a new encryption for every sale

making sales more secure.

3

If you are still using the magnetic stripe

only devices and your customer has an EMV enabled card, you are liable for any fraud that may result from that transaction.

4

In 2017 liability shifts for Automated Fuel Dispensers

5

In 2015 The EMV liability shift was implemented

to encourage retail merchants to increase card security and reduce counterfeit fraud.

EMV Solutions?

Preferred Payments
offers many EMV Solutions both a:

  • Point of Sale Systems
  • Standalone EMV chip card terminal
  • Mobile EMV Solution
  • EMV Smart Phone Device
  • Connectivity through dial up, Ethernet, Wi-Fi, or a 3G network.

EMV Mobile Solutions for Wine Festivals, Events, and Tasting Rooms

  • With the new EMV chip card mandate, more businesses are in need of a mobile EMV solution.
  • Don’t let the price fool you, we offer low budget EMV mobile solutions that you can take to your wine festivals or accept payments around your vineyard.
  • Not only does this simplify the process for your customers but it enables you to accept EMV chip cards (or any sort of payment) on the go, at any time.

Have Any Questions?

We’re here to help!

EMV Solutions?

What Am I Liable For?

If a customer disputes a charge, you will automatically lose and will be responsible for paying the charge back.

Will I Still Be Able to Accept
Credit Cards That Don’t
Have a Chip?

Yes, your EMV terminal also has a mag stripe reader that you can use if the card does not have a chip, and if that card happens to be fraudulent or counterfeit you will NOT be held responsible, because you have an EMV terminal.

How Likely Is My Business
to Be the Target of
Fraudulent Cards?

31.8 MILLION US consumers had their credit card stolen last year, 3-times more than in 2013, which unfortunately leaves a lot of room for fraudulent or counterfeit cards. When the UK switched to EMV in 2005, counterfeit fraud decreased by 63%.

Here Are Some Additional
EMV Related Statistics

Discover is ONLY issuing chip cards and will no longer issue cards with a mag strip
By the end of the year, over 60% of credit cards and debit cards will have chips

Chase has issued 64 million chip cards, 70% of Chase card holders will have a chip by December 2015

The United Staes is is accountable for 47% of all global fraud

50% of small retail businesses have experienced fraud or hackers

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