EMV Credit Card Processing

Effective October 1, 2015, your business could be held liable if it accepts fraudulent credit card transactions on a non EMV-enabled terminal. The United States is transitioning to EMV (Europay, MasterCard®, and Visa®) "smart card" credit cards because imbedded EMV chips secure customers' data better than the traditional magnetic strip. This liability shift means that every business should make having EMV-enabled terminals a top priority this year.

What Makes EMV Better?

EMV payment systems and credit cards save time and make it much easier to combat counterfeiting and fraud, such as:

  • Employee theft — the card remains in the cardholder's possession at all times.
  • Tip fraud — the cardholder adds the tip directly on the device, eliminating back-office adjustments.
  • Card skimming fraud — EMV cards reduce chargebacks.

Don't Be Held Liable

As of October 1, 2015, if your business accepts and processes a fraudulent transaction on a non-EMV enabled terminal, you will be held liable for the transaction, not the credit card company.

Be Ready Now with Paychex

Paychex Payment Processing Services has a wide range of EMV-enabled countertop, Bluetooth®, and wireless terminals, which also support NFC (near field communication) for the new mobile payment options such as Apple PayTM.

Paychex is an Elavon Payments Partner and registered MSP/ISO of Elavon, Inc., Georgia.