EMV Liability Shift: History, Definition & More
EMV credit card migration isn’t the future, it’s happening now, as your competitors and businesses around the globe convert to this more secure credit card processing technology. Migration to EMV chip card terminals is occurring at a rapid pace because consumers demand extra layers of security with their purchases, and businesses don’t want the liability of credit card fraud. Because EMV chip credit cards rely on digital data at point-of- sale terminals, data theft and counterfeit use decrease dramatically with EMV transactions. If your business has not yet undergone EMV migration, the time is now to protect your business and your customers with EMV credit card terminals.
WHAT EMV CREDIT CARD MIGRATION MEANS FOR YOUR BUSINESS
The shift to EMV terminals means good things for your business. EMV card usage decreases card theft and fraud, so your customers will feel more secure shopping from you. In 2017, Visa alone saw a 105 percent year-over-year increase in the amount of chip cards issued in the United States, at 400 million, while merchant adoption grew to 1.75 million Visa merchants who accept chip cards. As a merchant who accepts EMV chip credit cards, you stand out among other merchants who are slow to adopt, and you deliver the peace of mind customers crave.
It’s likely that sometime in the near future, EMV card adoption will not only be widespread, but will be required. Around the world, in countries like Malaysia and Australia, requirements for EMV terminals are becoming the norm. This ultimately helps to protect retailers, since in the United States, merchants are now liable for counterfeit credit card fraud if a customer has an EMV chip card, but the merchant uses a swipe-and-signature processor. Migration to EMV chip card readers and other technology makes the most sense for your company.
ACHIEVE MIGRATION TO EMV TERMINALS WITH BANKCARD ACADEMY
Adopting EMV credit card terminals is simple with Bankcard Academy. We provide free EMV credit card readers for our partners, so your business can start accepting EMV payments immediately and eliminate liability for fraudulent charges. If your customers do not have EMV chip cards, your new EMV terminals still give them the ability to swipe or tap their card. Nothing changes for your transactions, other than the additional assurance your business and customers have regarding data protection.
Another benefit to working with Bankcard Academy for EMV migration is that your business gains the relationship of a dedicated account manager, who will work with your business to make sure you have the best EMV credit card terminals available, whether that’s a desktop point-of-sale machine, or a mobile EMV chip card reader that can be used in the customer line or at a diner’s table. Our EMV chip readers use the latest technology to deliver accurate, secure, and fast transactions. We are here to guide you and your staff with training and support to successfully implement EMV transactions in your business.
To learn more, contact our sales team at 844-277-5310 to discover the advantages of Bankcard Academy EMV credit card terminals for your company. Or, email us at email@example.com for more information.