What is EMV Certification?
Are you using an EMV card reader on your unattended machine? EMV refers to a global standard for securing chip cards, established by Europay, MasterCard, and Visa in the 90’s. The certification refers to technical specifications for chip cards and terminals to communicate to each other.
Why should I get an EMV Card Reader?
To Protect Your Consumers
When you have a chip card reader, a consumer doesn’t swipe their credit or debit card and instead, they will insert their card into the reader.
A non-certified magnetic swipe card can easily be duplicated and personal card data can be stolen. When your consumers use an EMV card reader, every transaction creates a one-time code, close to impossible to counterfeit. This makes it safer for your consumers to use a Nayax card reader and will increase their confidence in paying cashless for your product or service.
To Avoid Liability for Fraud
Another reason to adopt an EMV card reader is to avoid liability for chargebacks. If a stolen or forged chip card is used in a non-certified POS terminal the liability of any fraud, even micro-transactions, passes to the Merchant of Record. This makes you, the operator, financially responsible for paying chargeback fees. With an EMV-certified device such as VPOS or VPOS Touch, the liability for any fraud will be on the card issuer.
Increased Trust by Machine Venues
When you implement an EMV card reader on your machine you will be compliant with global laws and regulations. More institutes and locations will feel secure working with you because there is no risk of fraud occurring on their premises.
An EMV Card Reader Costs the Same as a Non-Certified Card Reader
There is no price difference between an EMV certified and non-certified terminal. Protecting your investment at no extra cost can save you lots of hassle. It also ensures you are compliant and increases trust from consumers and venues alike. When you opt for an EMV card reader you can save yourself legal hassles and money. Why risk your business? Choose Nayax to be confident that you’re protected!