Why EMV is Important For Restaurants

If you’re just hearing about EMV now, then I have some bad news for you. EMV rollout started about a year ago and has since passed one major deadline, Oct 1st 2015, for merchants. This deadline dictated that the merchant is now responsible for chargebacks and fraudulent transactions. During the rollout of EMV many business owners were slow to adopt the technology. Especially in restaurants where we still see that most if not all are relying solely on magstripe. Many restaurant owners refuse, or delay upgrading over the pure convenience that magstripe has provided them for years. Even though they’re the ones bleeding out cash in fees and chargebacks each month. Magstripe vs EMV EMV transactions rely on a small embedded chip programmed with a special token. The chip gives it the ability to dynamically generate a secure transaction between the bank and the card. Every time the card is…

Read Full Post