EMV IS COMING

Get EMV Chip Ready Today.

First Choice MSI is ready to help you learn and prepare your business to meet the upcoming deadline. Avoid the risks and protect yourself from potential penalties by getting informed and ready today.

What is EMV? Here’s a short review of what you need to know…

EMV stands for Europay, MasterCard and Visa. EMV technology is current the global standard for payment processing with credit cards and debit cards. The United States is one of the last countries to migrate to EMV.

Currently, a cardholder’s information is stored on a magnetic stripe found on the back of the card. With EMV technology however, cardholder information, and more, is stored in a chip which is embedded on the front of the card.Visa, American Express, MasterCard and Discover have all announced their plans for moving to an EMV-based payments infrastructure in the United States in less than a year.

First Choice MSI is ready to help you learn and prepare your business to meet the upcoming deadline. Avoid the risks and protect yourself from potential penalties by getting informed and ready today.

October 15th 2015 Deadline

Visa, American Express, MasterCard and Discover have all announced their plans for moving to an EMV-based payments infrastructure in the United States by October 15th, 2015.Liability for fraudulent charges on non-EMV terminals after this date will be shifted to the merchant.

There are many benefits of accepting EMV chip cards at your business.

  • Reduce counterfeit card fraud
  • Increase security
  • Enable cardholders to use secure EMV payment cards globally
  • Increase in revenue through acceptance of international visitors’ cards
  • Prevent shift in liability
  • Avoid rush towards the end of the conversion—be prepared early
  • The ability to accept a chip card in the U.S. may mean the difference between card swipe rates and hand-keyed transaction rates

The ability to accept EMV cards can provide a potential increase in revenue through acceptance of international cards; plus, merchants may save money through the future liability shift.