Secure EMV Chip Cards

4 Ways for Merchants to Avoid Fraud After the EMV Liability Shift

Card fraud is a persistent problem in the U.S. In fact, per The Nilson Report, U.S. card losses accounted for a whopping 38.7% (or $8.45 billion) of gross global card fraud losses in 2015. Given that stat, it’s no surprise the major payment networks instituted new rules that very year designed to mitigate the problem. While financial institutions traditionally footed the bill for fraudulent transactions, payment networks can now hold merchants liable for fraud if they accept the payment in store via a credit or debit card’s magnetic stripe and not it’s more secure EMV chip. That liability shift means it’s more costly than ever before for merchants to skimp on payment processing security. Here’s a guide to avoiding fraud with (and after) the EMV liability shift. 1. Upgrade Your Terminals EMV chip readers are designed specifically to prevent “card present” fraud. “Card present” fraud is just a fancy way of…

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Merchant Education & Learning Center

Ready To Launch Your Online Business? Understanding Payment Solutions Should Be A Top Priority

Entrepreneurs launching an online business have dozens of things to think about. There’s decisions to be made about company branding, social media campaigns, pricing and new staff members, which all need to align with the big mission of the company. Not to mention, marketing campaigns, sales initiatives and client onboarding tools to consider too. But as entrepreneurs diligently juggle choosing the color scheme for their new websites and bringing on the best new talent,  it’s easy for one technical – yet very key – activity to fall by the wayside: taking the time to understand payment solutions. Because while talk of merchant services and payment processors may not be as fun as designing a new logo, it is likely much more important. Not understanding the ropes can cause an entrepreneur to throw money down the drain, or even become victim to online fraud. Really, understanding payment solutions and merchant services…

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Credit Card Mobile Machine

Should I Use a Credit Card Machine or Mobile Card Swiper?

We recently wrote about the various kinds of EMV equipment. Many merchants find themselves looking for a solution that’s secure and can be brought with them to accept payments on the go. We’ve written up a short re-cap of what you can expect from mobile swipers, countertop terminals, and a new breed of “Smart Terminals.” We hope to answer the question that plagues many merchants: Should I use a credit card machine or mobile swiper? This is a question that is not foreign to the merchant. Perhaps this is a dilemma you have had to deal with yourself. Both of these options for payment processing have their benefits as well as downsides. Weighing the pros and cons can be a helpful practice for determining which option would best suit your needs and provide you with an efficient solution to your payment processing. As such, let’s take a look at both the…

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