Secure, Streamlined Payments
A&B POS delivers secure payments whether you’re selling in your shop, on the sidewalk, or on the web - safe, secure and integrated into one experience for you.
What is EMV?
EMV — which stands for Europay, MasterCard and Visa — is a global standard for credit cards that uses computer chips to authenticate (and secure) chip-card transactions.
You probably have a lot of questions. So we’ll walk you through everything you need to know.
Not necessarily. But the vast (vast) majority of credit cards that have chips are EMV-compliant. If you have questions about your credit card and whether it’s EMV-compliant, contact your issuing bank.
he United States is switching over to chip cards in an effort to curb credit card fraud. In fact, even though the United States has a quarter of the world’s credit card transactions, almost half of the world’s credit card fraud happens here. This is because magnetic-stripe cards use an outdated technology and easy for fraudsters to counterfeit. Chip cards, on the other hand, are way more secure. An EMV credit card chip is actually a super-small computer that’s extremely hard to counterfeit. When the data is transmitted during a card transaction, it’s encrypted which means even if bad guys intercepted the information, they probably wouldn’t be able to do anything with it. So as a country we’re switching to cards with EMV chips. The recent high-profile security breaches at some of the country’s largest retailers have added motivation to make the switch quickly.
ou dip the credit card vertically, chip first, into an EMV-enabled reader instead of swiping it horizontally on a magstripe reader.
There’s actually no law that requires businesses to be EMV compliant by the liability shift. It’s up to each individual seller to decide whether or not to upgrade. What has changed is the way that the banks and the processing networks handle fraudulent charges. But even though the EMV liability shift is not officially a law, it’s a good idea to protect yourself by ordering an EMV reader (like the A&B POS and chip reader) soon so you can accept the most secure forms of payment.
No. In fact, EMV has been the standard in nearly every major market except for the U.S. for decades (which you’ve probably noticed if you’ve traveled to Europe or Canada). According to a report by payment-processing company First Data, it’s now estimated that 70 percent of non-U.S. credit card terminals are EMV chip card enabled.