Archives / 2015 / November
  • Best practices for EMV fallback transactions

    If a customer's chip is faulty, do you know the best way to process the transaction?

    Since the October 1 liability shift, merchants across the country have rushed to adopt EMV-enabled payments systems. With this high rate of migration, the payments industry is observing an exorbitant rate of fallback transactions coming from newly deployed EMV terminals.

    In these cases, chip cards presented at a chip terminal cannot be read due to technical issues with the chip. As a result, merchants are pressed to follow fallback acceptance procedures to ensure compliance with card acceptance rules. However, because these fallback procedures require merchants to revert to less secure transaction methods, such as magnetic stripe or key-entry, they must be especially careful when executing fallback purchases.

    To navigate the proper fallback procedures, keep these … more

  • The payment technology of the future. Hint: it's not EMV

    NFC technology allows any enabled device to send payment information to retailers with just a wave.

    Although EMV technology has been around for decades, its relatively recent introduction to the U.S. (and the ensuing liability shift) has brought the new credit card technology to the forefront of American merchants' minds. While EMV transactions and compliance have come to dominate the merchant payment conversation as of late, another, more innovative payment technology has positioned itself to eclipse EMV as the new future of consumer payment technology: NFC.

    To understand how this shift could take place, let's first take a moment to lay out the difference between these two payment methods.

    EMV, which stands for "Europay, MasterCard, and Visa," is the technology behind transactions between a chip-enabled credit card and an EMV-enabled payment terminal or ATM. Chip cards have become … more

by Ty Hardison

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