Category Archives: Point of Sale

Why the Switch to EMV Remains Slow – And How You Can Stay Secure

Banks have converted around 60% of their debit and credit cards to EMV cards, which are more secure than traditional magnetic strip technology. These cards generate a random number at the time of the transaction, making them much more difficult to counterfeit than traditional credit cards.

Although the United States is responsible for about 50% of fraud worldwide, the changeover remains slow.

Most of the big retail chains, such as Walmart, Target, and Best Buy, have already converted to the EMV-enabled POS systems. Small businesses that use simple systems have also converted.

However, about 42% of businesses – most of which are mid-sized companies – haven’t made the switch. And, among those companies that have switched, they still run into problems.

In fact, according to some industry reports, 4 out of 5 EMV-enabled card readers aren’t able to accept chipped credit cards.

What’s Causing the Delay?

There are several reasons for this:

  • One problem isn’t the hardware – it’s the software. In order to be able to accept chipped cards, custom POS software must become certified by each of the credit card companies as well as merchant banks. Becoming compliant takes time and only causes more delays.
  • Another problem is the fact that debit cards are processed differently from credit cards. Since these two types of cards are processed differently, it only makes software updates more complex and time-consuming.
  • Also, the EMV credit cards allow anyone to sign for a transaction. Since there is no verification for the signature, this still doesn’t prevent fraud.

What You Can Do to Stay Secure

In the future, we will be able to use these chipped cards with PIN numbers, which will be even more secure than signatures. Implementing this layer of security, though, is a hurdle in and of itself, and will take even more time and money.

Until then, what can you do to make sure you are as secure as possible?

Pat O’Boyle, from MSP Consulting, has this suggestion:

“Pull out the piece for credit card acceptance to get it EMV ready, so you don’t eat all that risk. Then once your POS vendor is EMV ready and you’ve upgraded with all the right tools in place, then put the EMV payment back into the overall system.”

We’re Living in a Mobile POS World

The tech-savvy consumers of today have a deep love for their devices…and we, as businesses, are right there with them.

Society has reached a golden age where nearly everything can be completed through the use of a cell phone. You can order a pizza, manage your bank account, and watch movies on the go. It’s no surprise that cell phones have commonly become a digital alternative to traditional POS systems.

At the end of 2015, there were more than six million mobile POS terminals being used by businesses all over the world. The popularity of these systems continues to grow on a daily basis and is changing the way companies are handling their transactions.

Mobile POS Systems like Square and Pay Pal Here, allow businesses the luxury of accepting credit card payments in locations where they ordinarily wouldn’t have been able. For instance, maybe you don’t have access to a traditional transaction terminal. Or maybe you don’t have the need for one. These mobile systems provide a sense of flexibility to business owners and employees while still offering customers the convenience of using their credit and/or debit cards.

In terms of competition, Square and Pay Pal Here are pretty comparable to one other. Each system offers a variety of different benefits that are necessary components of an ideal POS terminal.

Here are just a few of the great features you’ll receive from both of them:

Basic Hardware Needs

With Square and Pay Pal Here, all you need to get started is a smartphone or tablet. When you sign up with either of these services, you’ll receive a free basic mag strip card reader (you can upgrade to an EMV reader for a small fee.) The services also come with a free app to handle your transactions.

Amazing Operator Services

Both mobile POS services offer great features such as multiple user authorization and receipt printer compatibility. Individually, they each offer unique services that set them apart, as well:

  • Pay Pal Here has a great photo capture card acceptance method.
  • Square offers an incredibly useful offline mode that works for businesses no matter what their Internet situation is.

No Contracts or Early Termination Fees

Neither Square nor Pay Pal Here requires any sort of contract or monthly fee. You have the flexibility to change services at any point without the risk of fees and/or penalties.

Square and Pay Pal Here: Two Great Choices for Mobile POS Services

When it comes to selecting the best mobile POS service for your company, there are so many different options available. Both Square and Pay Pal have been around for quite some time and offer reliable services that you can trust. Their fantastic features provide an experience consumers can trust in, and business owners a terminal they can rely on.  So step on into this mobile era…the perfect POS service is waiting for you.