EMV is around the CORNER! Are you ready?

Spencer Technologies
EMV is around the CORNER! Are you ready?
What's EMV?
EMV stands for Europay, MasterCard and Visa, a global standard for interoperation of integrated circuit cards (IC cards or "chip cards") and IC card
capable point of sale (POS) terminals and automated teller machines (ATMs),
for authenticating credit and debit card transactions.
This system has been in place in European retailers for many years and more
recently has been adopted by Canadian retailers. It significantly reduces fraud
by using advanced cardholder verification methods, including the ability to
verify a customer PIN number against the chip card and complete an approved
transaction even when the payment terminal is offline.
What's the Timeline?
October 2015 is the date mandated by the major card brands and security
organizations that ALL US retailers must have EMV capable payment terminals
in place and capable of accepting EMV cards.
Why the big deal?
As of October 15, 2015 there is a liability shift to the merchant in the event of
a breach. Merchants that do not have EMV capable payment devices in place
could face significant fines and costs should there be a security breach
associated with non-compliant devices.
What about magnetic stripe use?
For the near future, payment terminals will continue to have both EMV and
mag stripe capabilities enabling the customer to pay by either method. Credit
card issuers are now in the process of re-issuing cards that include both chip
and mag stripe capabilities.
How can Spencer Technologies help?
Encryption: We can provide PCI/VISA certified debit and MSR
(P2Pe) encryption services for your new or existing payment
Installation: Spencer's nationwide team of expert field
technicians are available to complete your installation.
Disposal: Your obsolete payment equipment must be securely
Procurement: We can help you specify and acquire the EMV
capable payment devices you need.
Project Management: Spencer's experienced project managers
guide the whole process every step of the way.
Contact Us Today!
Corporate Office
Spencer Technologies, Inc.
102 Otis St. Northborough, MA 01532-2415
P: (508) 595-9496
F: (508) 595-9798
For more information, call Mike Rochette at Spencer SSG Group or talk to your Spencer Account
Contact: [email protected] or call (508) 635-2116
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