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EMV for Dealers



EMV for Dealers

Speaking with Merchants about EMV acceptance

Chip cards, also known as “smart cards,” are credit or debit cards that have sensitive cardholder information embedded in a data chip in the card, as opposed to traditional credit cards where the data is only stored in the magstripe on the back of the card. While the two types of cards may look the same, the way that the data is accessed to process a payment transaction is very different. Traditional credit cards are swiped through a magstripe reader, or credit card terminal in order to perform a transaction. Chip cards can be swiped too, but have extra security advantages when processed via EMV chip readers instead.

EMV chip cards help prevent in-store fraud and are nearly impossible to counterfeit. EMV technology increases cardholder security and chip card technology is becoming the global standard for both credit and debit card payments.

The Liability Shift

To increase the adoption of chip technology, Visa, MasterCard, Discover and American Express will implement a liability shift for domestic and cross-border counterfeit transactions effective October 1, 2015.

Once the shift goes into effect, merchants that have not made the investment in chip-enabled acceptance technology may be held financially liable for in-store fraud that could have been prevented with the use of a chip-enabled acceptance device.

Key Benefits:

  • Reduce risk of counterfeit, lost or stolen card fraud
  • Reduce card skimming at the point of sale
  • Accept foreign cards that are already EMV enabled
  • Modernize your POS by supporting EMV and contactless payment technologies

Next Steps

Many merchants are still not aware of what EMV is and how the upcoming liability shift may impact their business. Each business has different requirements for an EMV upgrade, and you should talk through them with merchants to best assess their needs. EMV acceptance can help to protect merchants from financial liability for in-store fraud and is part of a holistic security strategy.

Contact Your Account Manager for More Information

1-800-866-4472 or resellersupport@mercurypay.com


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