Credit card on top of a keyboard

EMV POS Terminals:
Making the Switch

After the October 2015 liability shift, EMV Chip Cards are becoming more prevalent in the U.S. It’s important to understand the benefits and potential risks of which you expose your business, whether or not you upgrade your terminals to accept EMV.

This is important to note because some unscrupulous providers are saying that EMV is mandated and required, but that is not true. However, you expose your business to new risks and costs if you don’t upgrade to EMV.

Updating your POS equipment is not required, however, does provide many benefits to both your business and your customers.

  • Faster transaction processing
  • Additional security – fewer risk of fraud and chargebacks
  • Wider range of payment acceptance methods (including chip cards and mobile payments)
  • Increased revenue and reduced costs
  • Time savings for both customers and staff

Investing in Your Future

When everything in a business is running smoothly, it’s often easier to maintain the status quo. As you know, the future of your business depends upon providing customers with the best possible experience, including a smooth, secure, and easy payment process. Newer POS terminals and systems are faster, more secure, and offer options customers want, like mobile payments and chip card acceptance.

EMV capability allows your business to securely accept a wider range of payment methods, process payments faster, and reduce the risk of fraud and chargebacks. This all adds up to increased revenue, reduced costs, and time savings. The size of your initial investment will vary according to the complexity of your payment processing systems. Work with your credit card processor to determine the best options for your unique needs.

Contact a business banker representative at (573) 634-0888 or stop by any location to get started.
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