Frequently Asked Questions
What is EMV?
Why would I want to use EMV?
EMV is a tiny, metallic computer chip on credit cards. Lots of cards today have both a magnetic strip and a chip, but only the chip is EMV. To use the chip, the card is inserted into a slot on the terminal rather than swiped.
EMV transactions are more secure, making fraudulent EMV transactions virtually impossible. As a customer, you should use EMV in order to protect your private and sensitive information (such as credit card number and billing information). As a merchant, you should process EMV transactions to protect your business from becoming liable for fraudulent transactions.
Why is this changing?
Can I still use regular cards with no chip?
Cybercrime is at an all-time high and the United States has been a target for fraudulent activity. This motivated card issuer companies (such as Europay, MasterCard and Visa, the original founders of EMV) to develop a more secure payment method. In order to encourage everyone to use the most secure technology available, liability for fraudulent transactions will land on the party who uses the less secure technology.
Yes, if the card does not have a chip, it is safe for you to run the transaction with the magnetic strip. In such a case, you will not be held liable for accidently processing a fraudulent card. You are only in danger of becoming liable when you process a fraudulent card with the magnetic strip when the EMV chip was an available option.
How do I accept EMV payments?
First, you must make sure your payment device is EMV-capable. Contact your Central Payment sales representative to discuss your options for upgrading to an EMV-compliant terminal. Once you have an EMV-capable device in your hands, processing EMV chip cards isn’t all that different from swiping a card: just insert the EMV card (chip side up) into the slot of the device, leave it there while it processes, then remove it when prompted.
Learn how to process EMV transactions.
What about card-not-present transactions like e-Commerce or keyed transactions?
EMV is for card-present transactions only. Payments that are keyed-in or done through e-Commerce or MOTO will not be affected by the liability shift. In other words, merchants will not be liable for fraudulent card activity in a card-not-present transaction.