What is EMV? EMV is a technical standard for smart payment cards and for payment terminals and automated teller machines that can accept them. EMV cards are smart cards (also called chip cards or IC cards) which store their data on integrated circuits rather than magnetic stripes. EMV Implementation Visa MasterCard American Express Discover/Diners Club …
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For small businesses, home businesses or family businesses, keeping the costs as low as possible is one of the keys to making a profit. At MBN we understand the need for economical options in everything you do, which is why we focus on low cost credit card processing. However, when it comes to low cost, …
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At MBN, our goal is to provide our customers with the service they need at a low competitive rate. We listen carefully to your needs for credit card processing and make suggestions for the best options to give you the merchant credit card services you need while also saving you from spending money needlessly. Know …
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It isn’t too hard to imagine but according to the 2013 Federal Reserve Payments Study, which tracked payment trends over a 10 year period from 2003 to 2012, it was found that credit and debit card purchases are sharply on the rise. In addition, the general-purpose cards, which include Visa, MasterCard, American Expression and Discover …
As a business owner, it may seem like there are a million decisions to make on a daily basis. One more important decision you will need to make is in choosing a credit card processing company. While this may not seem like a big choice to make, and unfortunately many businesses don’t take the time …
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The first rule of business is that things change. Business owner’s must keep up with the latest trends in technology, pricing, advertising, and many others. Staying aware and abreast of all of these factors is what makes you a successful entrepreneur. Another evolving area of business is changes in how customer’s pay for their purchases …
In an effort to provide increased security for customers, new credit card technology called EMV has been developed. EMV stands for Europay, MasterCard and Visa and refers to the creation of something called chip and pin or smart cards. Instead of a magnetic stripe, EMV cards store sensitive data on a computer chip embedded inside …
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October 1st, 2015 is just around the corner — is your business ready for the transition from the traditional magnetic-stripe cards to the new chip-and-pin “smart” cards? While EMV compliance is not “mandatory” for merchants, if you’re business is not ready to accept the new cards, then you will be assuming the liability for any …
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Unfortunately in today’s climate of rampant computer fraud, it’s not only major financial institutions or retailers that find themselves to be hacking targets. Small businesses are also vulnerable to having their customer payment data stolen. It may seem as though as soon as a system is updated with new security features, the thieves develop a …
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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. …