EMV - The Future is Now
Although the initials used are out of date now, EMV used to stand for Europay, MasterCard and Visa. More simply put, it is the global standard that has been put into place by leading international credit card companies for transmitting transaction information. It has been adhered to for years internationally, but now the standard has become more prevalent in the United States and it seems now, with deadlines set, it is coming to our shores.
It is also known as “Chip and PIN” or “IC Credit” and now represents more than Europay, MasterCard and Visa. The joint effort now includes China UnionPay, American Express, Visa, MasterCard and JBC (formerly Japan Credit Bureau).
The agreed upon standards define how interactions between IC Cards and point of sale devices are conducted to keep transactions safe. Deadlines in the United States for EMV Pin PADS, also called Smart Card Readers, have been set with the deadline being the third quarter of 2015. Gas stations will have until October 2017 due to difficulties with upgrading pumps. After the deadlines if you want to accept payments in any form other than cash, you must upgrade or face the consequences of accepting liability for any fraud or breach that may occur due to not being able to accept an EMV Card.
POS Plus has been researching, analyzing and keeping up with this technology for some time and we are ready to be a solution for your EMV/Smart Card Reader problem. One solution that is currently available and meets all of the upcoming requirements is the VeriFone’s MX 915. It is an EMV ready Pin PAD that has an exceptional display, powerful processor and generous memory.
This unit is NFC (Near Field Communication) enabled and supports full motion video, driving new revenue opportunities while enhancing customer interaction.
Some features include:
High-speed graphics processor and generous memory for messaging and video advertising
Crystal clear, 4.3" flush mount display
State-of-the-art stylus for a clean and sleek look
Chemically hardened screen, built for the long haul
Linux-based OS and application development environment for maximum flexibility
NFC/Contactless support to quickly capture new markets as they evolve
Large screen area accommodates optional signature capture along with scrolling account activity, branding and promotional offers
Integrated, backlit keypad to speed customers through lanes while reducing errors
Platform for loyalty plans, gift card issuance and top-up services
Web Development Environment provides a combination of web technology and a secure payment framework for flexible application development platforms
Supports end-to-end security with VeriShield Total Protect, which eliminates sensitive cardholder data from the payment device and merchant infrastructure through tokenization
Compatible with legacy or existing MX 800 series product solutionsVeriFone is the perfect partner with POS Plus during this transitional period. We have years of experience helping businesses keep up to date and look forward to providing you with solutions. If you have any questions about EMV and what it means to your business feel free to contact us at firstname.lastname@example.org.