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Does TRS have the ability for Integrated Chip card (EMV) processing

We are currently working on a couple of different integrations in parallel for the new chip cards

We are currently working on a couple of different integrations in parallel for the new chip cards.  In the US, they are using the term "EMV" to refer to this technology, which many people are calling "Chip & Pin".  The fact is that for most US credit card issuers, it will be "Chip & Signature", without a PIN number, but that is up to the individual card issuer, whether or not to require a pin number when the customer uses an EMV card.

 

One of the integrations that we are doing is specific to our recommended credit card processor, OpenEdge (formerly known as PayPros or PPI). 

 

The other integration is to Verifone credit card terminals running the Point platform.  The Verifone integration will work with a variety of terminals that Verifone offers, and with a variety of merchant service providers, as does PCCharge.  PCCharge does not support EMV cards, so we are moving toward the new Verifone Point platform for those not using OpenEdge.  Out target is to have both of these integrations done by the end of April.

 

One thing that I wanted to point out is that being able to process EMV is not a "federal requirement".  This is a very common misconception.  It is actually a "liability shift".  It will be a choice for merchants to make. In October of this year, what will happen is that if a counterfeit card (or stolen card in some instances) is used to pay for a purchase, the merchant who processed the transaction will be liable for the fraudulent charges if it was processed at a terminal without EMV capabilities.  The EMV terminals will definitely be an additional expense for most merchants, so each merchant will need to balance the risk of fraud liability vs the cost of the terminals.  Contrary to popular belief, merchants will NOT be prevented from processing credit cards if they don't move to EMV.  Magnetic stripes will still continue to work beyond October of this year, and there will still be many merchants who don't make the switch for awhile.

 

We will make an announcement via email when these integrations are complete.

 


Article Details
Date Created April 03, 2015
Author Robert Pirone
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