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What is EMV?

EMV (Europay®, Mastercard®, Visa®) is a payment standard that utilizes a difficult-to-duplicate microchip on the credit card, rather than the traditional magnetic stripe. In its primary format, the card is inserted (or "dipped") into an EMV compatible reader/PIN Pad for the duration of the transaction while the customer inputs a security PIN to establish valid card ownership.

The purpose of EMV is to reduce on-site credit card fraud by confirming that the card is both valid and in the hands of the correct owner. EMV does not however, protect data after the transaction, so it does nothing to prevent site-wide data breaches. For this reason, merchants should utilize processors that support end-to-end encryption and tokenization to protect themselves from data breaches.

Who's Liable?

On October 1st, 2015, liability associated with the fraudulent use of counterfeit cards shifted from the card issuer to the acquirer - who is universally expected to shift that liability to the merchant. This shift only applied to merchants that have not implemented an EMV-enabled payment solution. Merchants are only liable for the amount of the fraudulent transaction. EMV does not affect the merchant's liability pertaining to data breaches or 'card not present' (ecommerce) transactions - where the bulk of stolen cards are used.

For this reason, many merchants who have little risk of fraudulent transactions will likely wait to move to EMV until they're due for a new Point of Sale, if at all. It's important to understand that EMV is not a mandate, just a liability shift. POS providers should be taking on a consultative role to help their merchants determine whether the move to EMV is a good fit for their business.

Why datacap for US EMV?

EXPERIENCE MATTERS: With plenty of experience in the Canadian EMV rollout, Datacap is ideally positioned to hit the ground running with EMV development and certifications in the US.

DEALER-CENTRIC - We sell our products exclusively through your authorized POS resellers, ensuring your customers receive top-tier service from a pro and that your recurring revenue is protected.