Editorial Team
2 min read
Short for Europay, Mastercard and Visa, EMV card processing leverages fraud-reducing technology that helps protect issuers, merchants, and consumers against losses from the use of counterfeit or stolen payment cards at the point of sale (POS).
EMV processing accomplishes this with the help of embedded microprocessors, or smart chips, which interact with the merchant’s POS device to ensure the payment card belongs to the person using it. This kind of chip technology adds layers of security against fraud and is virtually impossible to duplicate. The customer must also supply a PIN or signature for EMV payment processing to be accepted.
3 reasons to enable EMV credit card processing
- Reduce fraud on your merchant account – Chip technology, combined with an EMV payment processing terminal, makes it difficult for fraudsters to steal credit card information
- Protect your customers – Retain your customer base by providing a secure shopping and EMV payment processing experience for your patrons
- Avoid liability costs – Investing in EMV processing protection now will save you much money in the long run, rather than putting your hard-earned dollars at risk
How EMV processing affects card-not-present merchants
If you think EMV credit card processing has nothing to do with you, think again. Card-not-present (CNP) merchants have seen a rise in fraudulent transactions as criminals migrate toward less-secure channels such as online, phone-based, and mail order shopping. Consider using fraud management filters and other security methods, like tokenization and encryption, to help protect your payment environment.
To learn more about EMV credit card processing, contact our merchant services team today.
Related Posts
Meet Clover Recurring Payments
How to start a cleaning business
Popular Topics
Stay In Touch
Sign up and learn more about Clover.
Recent Stories
- Dropshipping: What it is & why it might be smart for your small business
- What you need to know about automatic gratuity laws for restaurants
- Top management skills all small business owners should have
Please share your contact information
to access our premium content.
Thank you for sharing your contact information.
Download Now
