E.M.V. Embedded Microprocessors will not only being the most secure way to provide security for your customers but it also changes your responsibilities.
When the switch occurs and if you are not prepared it may cost you a substantial amount.
We specialize in relationships with E.M.V. providers, high risk, and standard low cost account providers. We can help you achieve your EMV merchant account needs.
One of our biggest goals is to provide easy and low stress service introductions.
We want providers to be relevant to your wants and needs, be credible, and help to create a long term solution for all your card processing needs,
including equipment, credit and debit options, E.M.V., and great customer service.
The new E.M.V. basics fundamental are quite different than a standard magnetic strip card. With the new E.M.V. technology a cardholders personal information including confidential data is much more secure through the use of encryption with the use of an on-board microchip. This makes it fundamental much harder to steal personal information, pin numbers, account numbers and take a huge leap forward in an attempt to slow down identity theft.
What exactly is E.M.V.?
E.M.V. is a New International security standard in credit and debit cards by integration microchips. It allows cards with E.M.V to work anywhere in the United States and Europe. With the E.M.V. advanced Chip technology, you are better protected against Identity theft and fraud related activities.
Why switch to E.M.V. based chip cards?
Chip cards are more secure than standard strip cards. A magnetic imprinted card can be copied. An EMV card contains a microprocessor that encrypts data to stop information from replication.
What are other advantages of the E.M.V. move?
The chip card complies with US banking requirements of data security. Microchips allow more quantity of information to be stored and allow more verification to be built directly into cards.
Obviously no card will ever be tamper proof but E.M.V. is the best currently on the market and makes it extremely complicated for fraudsters to attempt to decode.
EMV Merchant Account now in America
In efforts to thwart criminals, The United States of America has adopted the EMV standards and are implementing them now. We can all think back to some of the more recent identity theft cases where credit card numbers were violated. This is something that clearly needs to changed. In early 2014, warnings were issued that possible credit card leaks may have occurred at Michaels, Target and even The State of California DMV. The possible leaked numbers could be over 100 million individuals who could be affected.
You would assume that’s rare but unfortunately, more and more, it’s becoming prevalent. In recent months, The Nation of South Korea, Israel and high level government officials around the world have been targeted and had personal information stolen. It is time we up our security and do everything possible to protect this valued information. As a company who may be smaller than Target, the state of California or an entire nation, it may be advantageous to raise our security standards to EMV.
The change of responsibility.
In the near future anyone who does not integrate E.M.V. into normal everyday business will gaining liability.. If you do not have E.M.V. and fraud takes place you will be responsible for losses rather than getting reimbursed by the processing firm. This will dramatically move responsibility of theft and profit loss onto your shoulders. It may be better to start with providers offering E.M.V. options from the very beginning.