Remove the Stress from Chip Cards

Remove the Stress from Chip Cards

Chip cards seem to be a common point of frustration for businesses and cardholders. From the longer transaction time which lead to staring awkwardly at the customer, to the frustration of pulling the card out too soon, it’s no wonder that people aren’t taking too kindly to it. In the video below that was posted on YouTube by Above Average they take a comedic approach to venting these frustrations that we all can relate to. If you read below the video, we’ll talk about some of the ways as a business that you can help to reduce frustration.

Here are a few simple tips to make chip transaction easier:
  1. Use an internet connection
    Chip transactions are encrypted at every point, meaning that the processing time is longer, and more data is being transmitted. To speed things up, connect your terminals via internet which is much faster than dial up or transactions over a phone line.
  2. Let customers know to keep their card in the reader
    One of the biggest frustrations is when the card is pulled out too soon as it will void the sale and you will have to start over. In the event of a Pin Debit transaction, if the card is pulled after the pin is entered, but before the approval is received, the cardholder may be charged twice. (If this happens to you, call your customer service rep for your merchant account to get it resolved)
  3. Educate whenever possible
    It may not always be possible to avoid every situation, but you can make it easier the next time around for your customer. The chip is a microprocessor (a small computer) that is powered by the credit card terminal. The encrypted authorization from the cardholder’s bank has to be decrypted by the chip on the card for the terminal to understand the response. Thus, if the card is pulled out too soon, the process is interrupted and the transaction can’t be completed. The terminal will let you know when it is finished and safe to remove the card.
  4. Use the right hardware and software
    There are terminals on the market that have EMV (chip card) capabilities, but may not be supported by your credit card processor. To avoid the hassle of upgrading your equipment just to not be able to accept chip cards, contact your merchant services company and ask which terminals are EMV ready and supported.

To see if your business qualifies for a free upgraded terminal contact us at info@agapay.gives or call us at 800-644-3909 Option 1.

EMV creates a drop in Card Present Fraud

EMV creates a drop in Card Present Fraud

New data from the Auriemma Consulting Group (ACG) shows that card present credit card fraud losses have decreased by 18%, the lowest levels since 2013. With major adoption of chip technology by card issuers and merchants, card present fraud has become more difficult and has resulted in a sharp decline in related losses. However, even with accepting chip cards, there is still a risk. We recommend continuing with best practices to secure your customers credit card data.

If you know of any businesses that still aren’t able to accept chip cards, we would be happy to help them upgrade.

Best,

The Agapay Team

The full article can be found at: http://www.econotimes.com/

Visa Eases EMV Chargeback Policy

Visa Eases EMV Chargeback Policy

The transition to EMV has been messy for many merchants. Visa, being a leader in the migration to EMV technology in the US has decided to ease the burden placed on small businesses. According to a press release to their investors dated June 16th, they’ve released the following statement:

“Visa is modifying its policies to limit the number of fraudulent transactions that issuers can charge back to merchants (and their acquirers). Effective July 22, 2016, Visa will block all U.S. counterfeit fraud chargebacks under $25… These blocks will stay in effect until April 2018.”

For many small businesses, this is great news. Currently, if the merchant doesn’t accept EMV chip cards, banks have the authority to chargeback any disputed transaction often without allowing the merchant to respond. This update will limit the banks authority to transactions above $25 starting July 22, 2016.

Please feel free to contact us if you have any questions.

Best Regards,

Daniel Han, ETA CPP

President, Agapay

P.S. For a link to the press release it can be found here:
http://investor.visa.com/news/news-details/2016/Visa-to-Help-Accelerate-EMV-Chip-Migration-and-Support-Merchants/default.aspx

How EMV is affecting Businesses

How EMV is affecting Businesses

With the EMV liability shift on October 1st 2015, it created major changes in the marketplace. Given the heavy cost of switching to the technology, many merchants are still not capable of taking EMV (chip) cards. Even with chip capable terminals, we’ve seen issues where merchants are unable to accept chip cards because the processor hasn’t certified their type of machine with EMV. This has created some issues among merchants in the case of chargebacks where the merchant wasn’t given the option to dispute.

It’s important to make sure you are protected. If you are experiencing any issues or are unsure of where you stand with EMV. Please send us an email or give us a call and we would be happy to explain it to you and inform you of your options.

The Agapay Team

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