Are you up to speed on EMV? Let’s start with the basics. “EMV” stands for Europay, MasterCard and Visa, a standard for chip-based transaction processing technology created in the 90’s as a more secure way to handle credit and debit purchases. Why does it matter? Because MasterCard, Visa, Discover and American Express each have plans already in motion to affect EMV adoption in the United States. This means that merchants must adopt and integrate new equipment and compliance standards to handle these transactions, which can be a small or big challenge depending on the compatibility and capabilities of their current systems.
Knowledge is power, though; here are six things you need to know about EMV compliance that can help your business navigate the rollout. We’re here to help, too; give us a shout in the feedback section below to learn about maximizing the return on your transition.