UPDATE: We know we said below to do an online search if you would like to know more. The following links will not be the first selected among all the results, but, we thought to include them because we like them so much:
http://paylinedata.com/credit-card-processing-solutions/accept-credit-cards-in-store/emv-terminal/
http://paylinedata.com/credit-card-processing-solutions/accept-credit-cards-in-store/emv-terminal/faq/
Thank you, Payline Data for all your help!!
Original post below.
SOMETIMES, here at Cheers POS, we do actually have to work (and by, "work," we mean, "sit in front of a computer looking at non-Pinterest Internet").
Yesterday our secretary found out about the EMV Liability Shift/EMV Compliance Mandate. All businesses, owners, managers, banks, and credit unions are more than likely aware of this by now (seeing as how the mandated switch happened October 1, 2015): all (ALL!) credit and debit cards made from herein-out MUST have a small computer chip inside of them to mitigate financial fraud. If they do not, either the bank or the business that processes a transaction with the card will be held liable if the card was used fraudulently.
Why is this happening? It has to do with the initials, "EMV," which stand for, "Europay, MasterCard, [&] Visa". These are the big three plastic cards around the world that had the computer chip in them before it was mandated. Making the computer chip in cards mandatory, or businesses and banks face the consequences, provides a global solution to the calamity of fraud.
If you would like to find out more, please do an Internet search on, "EMV Mandate," or, "EMV Liability Shift."
One final note, included is a screenshot (via the technology ofhttp://icecreamapps.com/ "Screen Recorder") of sample EMV cards. All EMV cards currently have a, "gold [or silver] computer chip," icon on the front of them to show they are EMV.
~Cheers!
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