POS EMV Compliance Solutions
ARBA Retail Systems, working with industry leader VeriFone, is in full preparation to help you your POS become EMV- compliant and ready for the liability shift in October 2015. ARBA Retail Systems works with VeriFone to interface our Point-of-Sale Software with VeriFone’s EMV-compliant POINT Payment Solution. By using chips as an active part of the payment transaction, EMV cards and devices help prevent credit card fraud from stolen account numbers and duplicate payment cards. Moving to the POINT Payment Solution will allow you to accept payment via Debit with PIN and Near Field Communication (NFC) technology, such as GoogleWallet and ApplePay, and facilitate signature capture.
EMV stands for “Europay Mastercard and Visa” and it is a payment technology standard with inclusions in these 3 companies. EMV Cards (also called “Chip Cards” or “Smart Cards”) are chip-ready credit cards containing your secure credit card data. These chips allow for great increases in data security and encryption, stronger validation of the card and cardholder, and approve identification of payment devices. All these elements allow for greater fraud protection, decreases in fraud, and increases in security.
Important News
Furthermore, October 2015 is the liability shift date for all the major credit card providers. Each provider has different incentives related to POS EMV compliance. What this means is that by being EMV-compliant you not only provide your business and customers with greatly increased data security in a world plagued by credit card security breaches and worries but also, depending on the credit card provider, you will benefit from:
- 50% to 100% relief from occurrences of credit card Account Data Compromise (ADC)2
- Elimination of annual Payment Card Industry Data Security Standard (PCI DSS) validation requirements and waiver from PCI DSS audits.
Lastly, if you do not take steps to be EMV-compliant, you will bear liability for credit card fraud and data
compromise and be subject to increased data security constraints.
Learn more about our cashless payment solutions
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