If your business isn’t ready to accept EMV cards, it’s about time it should be!
It is becoming increasingly difficult for small businesses to resist and recover from credit card information theft. These small merchants are big targets for hackers. And as a result these businesses suffer from loss in consumer confidence, as buyers move on to bigger departmental stores with more stringent security measures in place to safeguard their personal info.
EMV card technology can put smaller businesses on the same footing as the bigger stores. This technology has the power to put a stop to credit card fraud.
How to Implement EMV
This investment in new EMV equipment is necessary for businesses that want to provide in accordance with consumer preferences while also ensuring improved security. But the good news is that the learning curve isn’t steep at all, and with a few little changes you can easily set up EMV contactless reader.
The experts at UIC World offer the following action list to start EMV implementation:
- Figure out who’s in charge of EMV implementation. No matter how smooth the transition is, a number of issues will undoubtedly rise during the EMV implementation. Make sure the entire staff knows who to talk to in case problems arise. The person should have the time and resources concentrated on all aspects of EMVfor your business.
- Talk to your payment processor.Find out what kind of EMV readers you should be investing in, how long the implementation will take, how it all will affect the payment processing capabilities etc.
- Upgrade to NFC, while you are at it! You are already paying thousands of dollars for new equipment, might as well go the mile and get payment terminals with NFC products and These will allow you to accept payments using mobile phone transactions, ensuring that your customers get the advantage of the safest, and the latest payment methods.
- Invest in additional encryption. The onus for fraud liability is now on small businesses and merchants. This makes it your responsibility to do whatever you can to ensure protection for you and your customers. EMV is a great first step, but it’d be even better to add Point-to-Point encryption (P2PE) and tokenization to your payments processing set up.
The last Word: Let UIC World Help You Be Ready To Take All Kinds of Payments
No matter how your customers choose to pay, it is important to have the right terminals and services set up to facilitate their needs. UIC World offers a range of products and services that can make EMV implementation easy and affordable. Visit their website now to learn more!