EMV Software Issues Preventing Merchants From Becoming Compliant

To eliminate fraudulent counterfeit credit card from circulating, EMV chip cards are now standard.

In stead of relying on the insecure magnetic stripe, card companies (Visa/MasterCard/AMEX) have built EMV technology into all credit cards.

The official EMV deadline was last year on October 1st. However, many merchants simply were not ready. Many have seen increase in EMV chargebacks while others have not yet noticed anything. 

Essentially, merchants without EMV compliance would be liable for paying back all credit card fraud charges that occurred using their payment terminals.

Some merchants that did upgrade and replace their existing terminal to EMV enabled machines. However, though they have the equipments, there is a software issue.

In order to be functional and compliant, the EMV software and terminal need to be certified.

Merchants throughout the entire country with EMV terminals are not compliant because their equipment is not certified.

In the meantime, these merchants are still being hit by EMV chargeback fees while they wait.

Being certified as compliant isn’t simple because each part of a payment transaction must be certified as compliant. This means the hardware and software.

The delays are frustrating and they are one of the main reasons why many merchants still aren’t EMV compliant.

If you’re a merchant without EMV software that communicate to your terminals,  find out about the MiPOINT integrations today.

The longer you wait, the longer your delay will be and the greater likelihood of getting EMV chargeback fees.

Ask about our current solutions or custom integrations: 888-397-0171

Learn about our EMV integrations using MiPOINT today!