Measures are being taken in order to reduce the number of security breaches in the US. Effective on October 1, 2015 all U.S. merchants and acquirers will be given various incentives to enable payments using Smart Chip technology. These incentives include:
- A liability shift – In event of a security breach where the retailer was unable to accept Smart Chips, the retailer will accept all liability.
- EMV holds promise as an enabler of secure mobile and e-commerce payments
- EMV contact – and contactless- enabled POS devices may be excused from PCI audits and associated costs
The reasoning as to why Smart Chip technology is superior to the traditional magnetic strip technology is that the embedded Smart Chip conceals information on the customer. Without knowing the consumers pin number the information contained in a card’s magnetic strip is essentially useless, making counterfeit cards virtually obsolete.
As an expert in the IT Integration field, we advise you to act fast! By working closely with your technology integration partner to determine the most cost efficient and cost effective approach to implementing this technology in all of your locations worldwide in a timely fashion.
By offering all-encompassing services, Comm-Works is an established industry leader. With 20,000+ technicians worldwide Comm-Works provides 24/7/365 support and on-site capabilities in 4 hours or less. Comm-Works operates by developing a streamlined process and seeing through each project from start to finish. Our methodology ensures all projects are completed on-time and on-budget.