EMV Chip Card
All businesses that accept in-person payments must be able to take carded embedded with chips, or risk being responsible for card fraud losses. Chip cards are more secure than magnetic stripe cards, which data thieves can easily skim for cardholder information.
Additionally, the policies of some payment networks, including MasterCard®, American Express® and Discover®, will cause you to bear losses for lost/stolen and non-received card fraud when a Chip-and PIN card is presented, and your POS device does not support PIN.
During the year, banks and card associations have been sending your customers new chip cards, and they will want to use them to take advantage of the security that chip cards offer. While the Oct. 1st deadline has passed, it makes good business sense to invest in an EMV-enabled terminal that accepts chip cards if you haven’t already done so.
So whether you need to process a chip or magnetic stripe card, or take contactless payments such as Apple Pay™, these terminals are great way to help you securely accept payments.