Are you ready for EMV?
The new chip and PIN credit card standard is the biggest change in cashless payments since the debut of the first credit card in 1950. Join Business Circle today and download our free EMV guide, full of tips and articles, to help you navigate the new credit card security standards.
Article
3 good reasons you should accept EMV cards
September 10th, 2015
Starting October 1, businesses that are not equipped to support Europay, MasterCard, and Visa (EMV) chip security technology for credit and debit card purchases will automatically assume some of the risk for fraudulent purchases that card companies now cover. This is a pretty big “stick,” and the threat makes it easy to overlook the benefits of shifting to EMV. Once your business can accept chip cards, it stands to dramatically reduce fraud and make shopping safer for customers. Learn how to easily make this shift and smoothly manage the transition in the exclusive Business Circle EMV g
Article
What EMV’s liability shift means for small businesses
October 1st, 2015
The new EMV credit cards are a security win for consumers, but the chip-cards can be troublesome for small businesses owners who do not comply with the requirements which take effect October 1. EMV, which stands for Europay, Mastercard and Visa, is the credit card security standard that has been used throughout most of the world for several years but is just now coming to America this year. “What it’s (EMV) really addressing is that it is making credit cards harder to steal,” said Jason Goldberg, Vice President of Commerce Strategy for Razorfish. While the better security me
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What you need to know about EMV chip cards
June 8th, 2015
High-profile data breaches have spurred the adoption of new credit card security measures, with microchip-enabled cards—referred to as Europay, MasterCard and Visa (EMV)—becoming the new standard. Many businesses must make system upgrades and other changes to be able to accept the new cards. By October 2015, any merchant that is presented with a chip card but processes the purchase using the card’s less-secure magnetic strip instead of the chip technology will be financially responsible if the transaction is fraudulent. U.S. card fraud losses are projected to total $7.5 billion in 20
Article
Beware these 4 pitfalls of EMV technology
July 31st, 2015
Countries that have already implemented microchip-enabled Europay, MasterCard and Visa (EMV) credit cards have seen significant drops in in-person card fraud. Despite its successes, however, EMV isn’t a magic wand that provides complete protection. For one, businesses that sell online will need to improve the security of those transactions, since EMV may make them a criminal target. Businesses will also need to keep careful records of in-store card transactions and maintain strong safeguards for customer payment data. Learn about these and other dents in the EMV armor to help protect your
Tips
Article
5 harmful myths about EMV chip-card technology
June 23rd, 2015
While many people have heard about chip-enabled credit and debit cards at this point, misconceptions about EMV fraud-protection technology have kept some businesses from adopting it. By the end of 2015, 70 percent of credit cards users will have a chip-based card in their wallet, according to analysts at Aite Group. Companies that are unequipped to accept these cards will be vulnerable to liability and fraud. Here are five common myths about EMV and what you need to know to protect your business. Myth 1: EMV doesn’t affect my business All businesses that accept credit or debit cards nee
Article
How to protect online EMV transactions
July 27th, 2015
As Europay, MasterCard and Visa (EMV) chip cards become the standard for face-to-face card sales, an increased threat may be looming for businesses that sell online. Experts expect Internet and other forms of “card not present” fraud to jump as criminals shift their focus to channels not protected by the chip technology that improves security when a card is used in person. The scenario has played out in other countries that have implemented EMV: In Canada, “card not present” fraud more than doubled in the five years since EMV was introduced, and in England, it rose 79 percent, accordin
Article
When EMV cards annoy: How to make things right
July 8th, 2015
New microchip-enabled credit cards make it harder for fraudsters to steal customer information at checkout. These Europay, MasterCard and Visa (EMV) cards also require a slightly different checkout process, which can trip up some shoppers in the early days of use. Checkout problems will eventually dissipate, but to keep customers’ satisfaction up and frustration down during the process, it pays to plan for snags. Follow these steps to keep your customers happy and able to make purchases easily at your location. Prepare for common hiccups Chip-enabled cards must be inserted into a machin
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