Preparing your business for EMV migration


Beginning Oct. 1, 2015, businesses without credit card terminals designed to take advantage of EMV chip technology will be liable for fraud losses. Here's how businesses can prepare:

EMV countdown begins
The EMV compliance race

With the deadline approaching for merchants to upgrade point-of-sale equipment, we look at how businesses are coping and what you can do to get ready.

   •   Contact your card processor to find out what you will need to do. If you've upgraded your terminal in the last few years, you might already have EMV-ready equipment but just need to turn it on. Or you might need new equipment.

   •   Shop around. There are many different kinds of plans, with a mixture of upfront costs and monthly fees. With businesses upgrading to EMV in the next year, prices are not expected to become cheaper than they are today.

   •   Consider software. Many businesses have software that ties in to their point-of-sale (POS) terminals. Ensure that the software is configured for EMV hardware.

   •   Think about training. It sounds simple, but customers with EMV cards will have to insert them into the credit card terminal instead of swiping them. Customers without EMV cards will continue to swipe them. Employees need to know how to accept these different methods of payment.

   •   Evaluate other anti-fraud measures. If a business is upgrading its terminals, it makes sense to consider other ways to reduce card fraud and data theft. Ask your card processor about additional services and technologies.

See related: 8 FAQs about the new EMV credit cards, How soon should retailers switch to EMV?, How can I protect my point-of-sale system against security breaches? 

Published: October 1, 2014

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Updated: 10-25-2016

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