By now, all merchants have been notified that they will be required in October, 2015 to begin accepting emv cards. This new technology will require changes, such as upgrading pos systems to be able to read the chip imbedded in these cards. On the flip side, the benefits of this new, secure technology are many. EMV cards are also known as “smart cards”, because they provide a wealth of information in an instant, decreasing the average transaction time while providing valuable data to your business. Given the pros and cons, the question many of you have been asking is should you wait until the deadline to accept emv payments?
At MBN, we believe upgrading to emv is something merchants should do sooner rather than later. In addition to superior data gathering, smart cards employee secure technology, which reduces loss due to fraud. The cards themselves can not be physically duplicated, and the information provided at time of payment is unique to that sale alone; eliminating the ability of a hacker to re-use the data in future transactions.
Your top competitors are already one step ahead
As a merchant, your first priority is protecting your customer’s personal information and making sure they have complete confidence in your establishment to do so. There have been several recent, highly public incidences of security breaches that have put hundreds of thousands of people at risk for identity theft. You can’t blame consumers for being skittish about handing over their credit card nowadays, and when given a choice among competing business, choosing the one with the highest standard of financial data protection.
Before a customer feels comfortable shopping with you, they need the peace of mind that comes with knowing their sensitive data will not end up in the hands of thieves. This is why we at MBN encourage you to consider improving the safety of your point of sale technology. By joining the growing number of businesses accepting emv cards, you can show your customers that you take the threat of payment info hacks as seriously as they do.
It’s about your customers
MBN has worked very hard to become known among merchant processors as the provider who can be counted on to keep customer credit card information safe. We have a team of experts who are constantly upgrading our security measures to keep up with the fast-paced and often sophisticated hackers who are always looking for a way in. To this end, we offer the most up-to-date technology and point of sale equipment to our merchants so they can ensure the same level of data safety on their end.
We take pride in our reputation for being customer-service oriented; offering 24/7 phone, email, and live chat forums through which our clients can get questions and technical problems addressed quickly. As an additional bonus, our merchants can take advantage of our customer loyalty programs, through which they’re eligible to receive discounts and incentives on equipment and supplies.
Call or click today and find out how MBN can help you improve your business through the use of advanced emv pos systems.