{"id":28558,"date":"2016-05-31T16:47:09","date_gmt":"2016-05-31T20:47:09","guid":{"rendered":"https:\/\/goebt.com\/emv-for-convenience-stores\/"},"modified":"2025-07-02T13:22:49","modified_gmt":"2025-07-02T17:22:49","slug":"emv-for-convenience-stores","status":"publish","type":"post","link":"https:\/\/goebt.com\/emv-for-convenience-stores\/","title":{"rendered":"EMV for Convenience Stores"},"content":{"rendered":"

Technology\u2019s constantly evolving for one reason or another. When it comes to technology in the payments industry, it\u2019s usually for one of two reasons: security or convenience, sometimes both.<\/strong><\/em>\u00a0 When these changes take place, it\u2019s generally a necessity for businesses to upgrade accordingly and avoid vulnerabilities or the stigma that comes with outdated technology.\u00a0 With a small business that\u2019s highly susceptible to fraud activity, it\u2019s important to take the proper steps to protect yourself and your customers.\u00a0 Recently, the United States made a pretty large transition to a technological development due to actual industry regulation.\u00a0 This change is known as the \u201cEMV shift\u201d.\u00a0 While this EMV technology isn\u2019t necessarily new, and has been implemented in many other European and Asian countries before the U.S., the shift has been interesting for many businesses and consumers.<\/p>\n

<\/p>\n

What is EMV?<\/strong><\/p>\n

EMV stands for Europay, Mastercard, Visa and was created to manage the standards for processing credit and debit card transactions by combatting fraud.\u00a0 The technology revolves around a very small computer chip that is embedded into the credit and debit cards people carry and use.\u00a0 These chips are very hard to counterfeit and when paired with another identity verification method like PIN or signature, make fraud extremely difficult to pull off.<\/p>\n

What does the EMV shift in the U.S. entail?<\/strong><\/p>\n

As of October 1, 2015, the payment networks and banks in the U.S. implemented a \u201cliability shift\u201d.\u00a0 With the shift, banks and credit card companies began issuing new cards to consumers that have both a magnetic stripe and a chip. The shift requires that all businesses upgrade to POS terminals that facilitate the use of EMV chip cards. \u00a0Without this technology, a merchant is to be held liable for any fraudulent purchases that occur when a card is swiped at their business.\u00a0 This is a major change for business owners, as the banks and payment networks were previously responsible for any chargebacks or fees associated with credit and debit card purchases.<\/p>\n

Why now?<\/strong><\/p>\n

As unbelievable as it may sound; almost half of the world\u2019s credit card fraud happens in the United States although only about a quarter of all credit card transactions happen here.\u00a0 With technology continuing to advance and the growing prevalence of security breaches (even at some of the country\u2019s largest retailers), financial institutions were more motivated than ever to make a significant improvement.\u00a0 Because other countries have already seen positive results in fraud prevention with EMV, the shift to this technology just made sense.<\/p>\n

How should I prepare in my store?<\/strong><\/p>\n

Because the liability deadline has already passed, it\u2019s important that you act quickly.\u00a0 The first step to making sure your store is equipped and ready for the EMV shift, is upgrading your credit and debit card processing terminals.\u00a0 By simply ensuring that your terminal is ready to process EMV chip cards, you\u2019re guaranteeing that you won\u2019t be left paying for the actions of a fraudster who swiped a stolen card at your store.\u00a0 If your business is also a gas station, you\u2019ll need to make sure your gas pumps are going to be updated as well.\u00a0 This upgrade has a deadline of October 2017, so you\u2019ll have some time to make the switch at the pump.\u00a0 Although it may seem that the cost of updating the technology at your business is too much, taking advantage of this time to upgrade will turn out to be a great investment in the long term.<\/p>\n

How will EMV benefit my business?<\/strong><\/p>\n

Besides just maintaining compliance with payment industry standards and saving money on potential fines, making the EMV switch will have a number of positive effects on your business.\u00a0 Because the official shift has already passed and consumers have had their chip cards for some time now, they are growing more comfortable with the EMV technology.\u00a0 As people become more accustomed to inserting their card into POS terminals and they become more aware of the security hazards with swiping, they will start to view businesses that are not EMV-ready as less trustworthy.\u00a0 Having a good reputation for protecting your customers and being equipped with the latest technology is a great way to attract and retain customers.<\/p>\n

Having EMV capable payment processing equipment also adds convenience to your checkout process.\u00a0 Once you\u2019ve upgraded your terminals, you\u2019ll find that the EMV transactions are actually completed much faster than those that happen by magnetic stripe.\u00a0 Also, you have the luxury of resting assured that data will be transmitted is much more secure.\u00a0 Your customers will enjoy not only confidence, but the ease with which they can process payments, as most EMV capable terminals also come equipped to accept contactless payments (Apple pay\u2122 and Samsung pay).<\/p>\n

If you\u2019re looking for more information on the EMV liability shift or what it means for your business, you can check out this site designed specifically for c-store owners:<\/p>\n

If you still need to upgrade your terminals and want more information on goEBT\u2019s new EMV-ready single-terminal solution through our partnership with TSYS?<\/p>\n","protected":false},"excerpt":{"rendered":"

Technology\u2019s constantly evolving for one reason or another. When it comes to technology in the payments industry, it\u2019s usually for one of two reasons: security or convenience, sometimes both.\u00a0 When these changes take place, it\u2019s generally a necessity for businesses to upgrade accordingly and avoid vulnerabilities or the stigma that comes with outdated technology.\u00a0 With […]<\/p>\n","protected":false},"author":244,"featured_media":28559,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1],"tags":[205],"class_list":["post-28558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-important-announcement","tag-industry-news"],"_links":{"self":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/users\/244"}],"replies":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/comments?post=28558"}],"version-history":[{"count":1,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28558\/revisions"}],"predecessor-version":[{"id":32855,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28558\/revisions\/32855"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/media\/28559"}],"wp:attachment":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/media?parent=28558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/categories?post=28558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/tags?post=28558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}