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EMV Deadline: Oct. 1st 2015

2015

WIth the major chip-card deadline looming in October 1,2015 every merchant must be compliant. Those that do not meet the deadline before Oct. 1st 2015, it will in result paying any fraudulent transactions or claims that are due because of this new “Liability Shift”. ALL RETAILERS AND BUSINESSES THAT CURRENTLY USE THE CREDIT CARD AND EBT              POINT OF SALE EQUIPMENT MUST SWITCH TO EMV TECHNOLOGY IN ORDER TO ACCEPT THE EMV CARDS.

                                                           For more information call us at: 888-590-8099

Become EMV Compliant 

Credit Card Machine

                   EMV Chip Card 

Every merchant must become EMV compliant by October 1, 2015. Those who do not meet the deadline will risk paying any fraudulent transactions or claims that are due because of this new Liability Shift.

 

For more information call: 888-590-8099

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                Find out why the shift to EMV is important for your business

 

 

The Security You Need

 

As of October 1, 2015, the credit card networks will impose a liability shift. Every merchant in the United States will now be liable for counterfeit credit cards if they are not using an EMV capable point of sale device. This means that every merchant in the United States needs to upgrade their equipment or accept this large, new liability.

 

What does this mean for you? If you complete an in-person sale after October 1, 2015, using the magnetic strip of an EMV compliantEMV-capable point-of-sale credit card, and that card turns out to be counterfeit, then you will now be liable for a chargeback for the full amount of that transaction. This is new. In the past, you were never liable for any counterfeit credit/debit card transactions.

 

EMV cards have both an embedded computer chip on the front and a magnetic strip reader on the back. EMV compliant transactions are completed by inserting the credit card into the slot in the front of the point of sale terminal. It reads the computer chip on the front of the card rather than the magnetic strip.

 

The Technology You Want

 

  • NFC Enabled - Accept Apple/PayGoogle Wallet/Samsung Pay. Don't lose out on any sales. Make sure you can accept and process payments any way your customers want to pay - including smartphones and watches.

  • EMV Capability - Protect yourself from new chargeback liability by processing EMV "chip" cards, instead of using the magnetic strip reader.

  • Free Terminal Placement - You don't have to sign a new lease agreement, or pay up to $700. We've got you covered - with our FREE terminal placement program. You will receive a new, EMV, NFC capable terminal for FREE. with low processing fees.

  • Guaranteed Lower Rates & Fees with No Term Contract - We plan to earn your business every day.

  • US-Based Customer Support - 24/7/365

 

 

EMV Chip Card Technology

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EMV (Europay Mastercard Visa) represents a more secure future to accept credit card payments for all merchants and will reduce the risk of counterfeiting and card fraud. However, EMV chip cards are new to the United States and carry lots of benefits to this technology which is too important to overlook. The Credit Cards are designed with an integrated chip in the card payment which read the chip instead of the magnetic stripe. As of October 2015, you and your processing company will be liable for any counterfeit smart card transactions and is known as the liability shift. Elite will do a replacement of your non-compliant terminal with a new EMV ready credit card machine.  Using the new EMV terminal will protect fraud in two ways, first, the chip is more difficult to counterfeit and second the way the data is transmitted is different each time the chip card is being used.

 

What If you have more questions?

 

If you have more questions contact our office: 888-590-8099 or e-mail us at info@elitebankcardsolutions.com 

 

Note: Retailers are required to complete an application and agree to terms
and conditions at the time of enrollment which includes transaction processing fees.

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