EMV chip cards

Why Your Business Should Accept EMV Chip Cards

By now, you have probably heard the buzzwords “EMV,” “chip cards,” or “Fraud Liability Shift,” but do you really know what they mean? As a business owner, it’s critical for you to understand the importance of accepting EMV chip cards (chip-enabled credit and debit cards).

We have put together the top reasons why International Bancard feels all small businesses should accept EMV chip cards, and we will help you understand the significance of EMV when it comes to your business.

Top four benefits of accepting EMV chip cards

  • Avoid liability: In October 2015, Visa, MasterCard, Discover and American Express put into place a Fraud Liability Shift (FLS) policy. The FLS now assigns liability for card-present counterfeit and fraud transactions to the party that has not made the switch to EMV chip card-enabled devices. What does this mean? If your business does not switch to EMV chip card-enabled devices, your business may be found liable for any fraudulent transactions. It is not a mandate, but in order to be protected from fraud, you will need to upgrade your payment acceptance solutions.EMV chip cards
  • Keep your business safe: By accepting EMV chip cards, you will reduce your liability for fraudulent transactions. As a small business owner, you know the importance of every customer and the reputation of your business that you have worked so hard to maintain. Protecting your business against fraudulent transactions, you save valuable time and money, along with the reputation of your business to your hard-earned customers.
  • Do it for your customers: Speaking of customers, EMV plays an important role in protecting personal data. Magnetic stripe cards are much easier to counterfeit than EMV chip cards. With EMV chip cards, the information on the chip changes with each transaction. When your customers pay with their EMV chip cards, they will know that your business is using the latest technology to protect their personal data and keep it secure.
  • Be part of the solution: EMV is now the global standard for credit and debit cards equipped with computer chips and technology used in POS devices to authenticate chip card transactions. This creates a consistent cardholder experience worldwide, as well as a united global front to battle fraud.

Also on StartupNation.com: Grow Your Business Through Payment Acceptance [Infographic]

It only takes one fraudulent transaction for your business to feel the agony of not accepting EMV enabled payments. Fortunately, StartupNation has partnered with International Bancard to help you make the switch to accepting EMV payments simple, easy and painless.

International Bancard helps businesses grow through payment acceptance. International Bancard is committed to assisting businesses in transitioning to EMV-supported devices and are experts on the EMV chip card acceptance program. International Bancard is fully prepared and stocked to ensure your business has the correct equipment to safely and securely accept EMV chip card payments.

You will receive a complimentary and thorough review of your business’ revenue stream, with a focus on the cost and safety of accepting EMV credit and debit payments.

International Bancard has a team of Certified Payments Professionals who will deliver insightful and straight-forward feedback on your business’ existing cost and risk factors, and present a clear set of opportunities to reduce cost and increase transaction security.

International Bancard will work to understand your business’ needs to design a solution that increases growth potential, so we can effectively implement, and ultimately support, business growth.

Content provided by International Bancard

Previous Article
Successful entrepreneurship

5 Steps to Successful Entrepreneurship

Next Article
Protect Your Pumps

Protect Your Pumps Uses Google Tools for Business Growth

Related Posts
Read More

Entrepreneurial Spirit Drives a Mission to Connect People With Popongo

America truly is the land of opportunity, especially to people who grow up in third world countries and fight adversity every day while seeking to create a better life for themselves and their loved ones. Creating Popongo was one such opportunity, a chance to challenge myself as well as fill a need and connect  people....
Read More

4 Reasons to Consider Outsourcing Your Sales Support

Sales representatives are responsible for boosting the company’s profits, and it can be a daunting task. Because of this, sales support takes some of this burden off their backs. Having sales support may not directly improve sales, but it has a positive impact on operations. Additionally, representatives can concentrate on improving their performance. The roles...
Read More

Entrepreneurs: How to Focus Ruthlessly and Win in 2022

New and aspiring entrepreneurs often fall victim to impatience and imperfection. When something’s not working perfectly to their standards (or worse, fails), they take it personally and don’t know how to move on to better iterations after the setback. But that’s what startup life is all about. To win, you have to learn how to...
strategic annual plan
Read More

Why The Traditional Strategic Annual Plan is Failing You

For small to mid-sized enterprises, the annual strategic planning process can be fraught with frustration. On one hand, it is acknowledged that the most accepted best practice for a business to go from their vision to achieving their stated result, for example, grow revenue by 5x over 24 months with existing resources and infrastructure, is...