Chip and Pin vs Chip and Signature

Chip-and-PIN vs Chip and Signature

With the EMV liability shift well under way, you may feel like you can finally stop worrying about how your credit card processing is done and get back to being concerned with the other aspects of your business. However, now that we have moved past the question of chip cards versus strip cards, we now need to tackle the issue of chip and pin versus chip and signature. Which is better and why? Is there a difference in security or merchant liability? If you are a business owner, this is a question that would be beneficial for you to deal with. Let’s take a look. What’s the Difference Between Chip-and-PIN Over Chip and Signature? The best place to start when choosing between these two approaches to transaction processing, is to get a better understanding of their differences. Helpfully, these two options are exactly what they sound like. For starters, chip…

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What you Need to Know about EMV

Inside The EMV Chip

Every one of us that has a credit card has heard about the rollout of EMV chip and pin cards. However, we’re all left scratching our heads about why this is such an important issue for merchants and consumers. Let’s clarify why this technology is important for everyone and how it can improve the future of payments. EMV in The Checkout Line Most of us have had the experience of waiting in line at the grocery store for the payment terminal to beep at us angrily to remove our card. When you insert your card into the terminal, the chip connects to the reader in the terminal. Every card that is handed out by the banks has a unique identifier that is used to validate the purchase. Every time the card is used a new transaction key is generated from the identifier. This ensures the card cannot be duplicated. If an attacker were…

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Easing into EMV Payments

4 Ways to Make the EMV Transition Easier for Merchants

The EMV transition is coming in October and it will affect all of your merchants, regardless of their size. The unfortunate fact is that only about 25% of merchants are on track to be capable to take EMV transactions by that time. While this is a problem for every merchant, smaller merchants will be disproportionately affected especially those that typically have large ticket transactions. After October 1, how many of your merchants will be able to shoulder the cost of fraud? To make sure you’re doing the best thing for your merchants you should be leading the charge in helping them make the switch. Unfortunately, that’s usually easier said than done because merchants don’t understand the seriousness of the transition or they are nervous about investing in new terminals or training staff on changes. To make it easier, we’ve put together four quick tips on making the transition easier for…

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