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By now, if you haven’t updated your payment equipment to be compatible with EMV chip cards, you’re already a step behind. But, don’t fret—if you own a small business, there’s still time to get new terminals before the liability shift hits on October 1. This late in the game, it will actually be tough to find a new point of sale system that isn’t compatible with EMV chip cards. That’s good news for you because it will make your search easier, plus you’ll have a wide selection of options. We’ve put together a guide to help you determine which type of EMV terminal is right for your business.

What Exactly is an EMV-Compatible POS System?

An EMV terminal differs from traditional magnetic stripe terminals in one major way: it includes a chip-reading portal into which customers insert their EMV cards. This portal features technology that can read the unique payment information that’s generated by the microchip embedded into the card.

What are Your Options?

Different types of businesses have different needs when it comes to payment processing. Here’s a look at the most popular types of EMV-compatible terminals available.

Countertop Terminals – Like their name implies, countertop terminals are placed on top of the checkout counter for customer use. These terminals are available with a number of different features including WiFi connectivity, receipt printing, near-field communication technology and more.

Pin Pads – Pin pads function similarly to countertop terminals. The only difference here is that they can only be used to process debit transactions, which typically have lower fees for the merchant. Often, pin pads are used in conjunction with compatible countertop terminals.

Near-Field Communication Peripherals – NFC is a technology that enables wireless data transfers between two devices in close proximity, often a phone or enabled credit card and a credit card terminal. NFC is kind of like a modern, cool “bonus” feature that can help to speed up the payment process. If the technology is not already embedded into the terminal, peripheral equipment is available.

Wireless Mobile Terminals – Mobile terminals will be key for businesses in the restaurant industry and businesses that interact with their customers on the floor. (Think Apple.) These point-of-sale systems are battery-powered, feature wireless connectivity and give the merchant the freedom to process payments from anywhere.

Where Can You Buy an EMV Credit Card Terminal?

If you work with a reputable merchant services provider (MSP), they’ll have a large inventory of EMV terminals for you to choose from. They’ll take care of all of the programming for you to ensure that it works properly in time for the liability shift. While you could technically purchase a terminal from an outside seller, it would still need to be reprogramed by your MSP, so it’s typically easier and more cost-effective to go directly through your provider.

Don’t Delay – Get Started Now!

Contact your merchant services provider today to place your order for new EMV-compatible terminals. The sooner you take action, the better the chances that you’ll get through this EMV transition chargeback- and fee-free!

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The EMV liability shift is now less than three weeks away! Is your business prepared for an influx of chip card-carrying customers? You may have installed new terminals and software, but now what?

If you’ve been to Target recently, you may have noticed that the staff is now actively encouraging all customers who have EMV chip cards to run them the proper way—by dipping them in the terminal, instead of swiping. Now, accepting EMV chip cards is great for your business and even better for customers—but it can be bad for your checkout line wait times if your customers don’t know how to run them properly.

So, now it’s time to train your staff. It’s important for your employees to be patient as millions of Americans learn how to use their new cards. It’s certainly not hard to run an EMV card, but it is a significant change in the way we’re used to paying. It’s a change of habit, and it will take time for the public to become completely comfortable with the new payment process. You can share this infographic with your employees to bring them up to speed on this new-fangled technology. When they understand how to use the terminals, it will be easier for them to explain to customers how to use them as well. Remember, good customer service leads to happy customers! You can see the text-only version of this guide by clicking here.

Text-Only Version:

6 Easy Steps for Chip Payments

Examine the terminal – Does it have a portal on the bottom designed to read chips?

If not, slide your card as if you would a regular magnetic stripe card.

If yes, gently insert your card into the terminal—it should be sticking about halfway out.

Leave your card in the terminal as it reads the unique code generated by the chip. You may need to wait for up to 10 seconds for the transaction to complete.

Remove your card, and place it back safely in your wallet or purse.

Sign for the purchase to help verify your identity in the case of fraud. Or, if you are using a debit card, you may need to enter a PIN.

Why the change? EMV chip cards are designed to be significantly more secure than magnetic stripe cards. Because the chip generates a unique code for each transaction, it drastically reduces the risk of a customer’s credit card information being stolen in the event of a data breach.

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Tami Cohorst, Chief Operating Officer of Abtek, was recently featured on Website Magazine, a leading resource for all things digital. Find out what she has to say about CRMs for e-commerce businesses.

“Without favoring one CRM over another, retailers would do well to look for a solution that allows them to not only collect customer data, but also make notes: What kinds of purchases did the customer buy? What do you know about their demographic make-up? How frequently do they come in? This kind of information can be collected and can be used to help tailor any number of outreach strategies that lets the customer know how much you appreciate their business–even if it’s been a while since they’ve stopped in.”

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Being able to accept EMV cards isn’t as simple as flipping a switch on your existing terminals. In most cases you’ll have to physically replace your POS equipment to be able to accept these more secure, chip-enabled cards. And with only half of merchants expecting to be ready by the October 1 deadline, there’s a lot of work still to be done.

What does the Liability Shift Really Mean?

Currently, merchants are at quite a disadvantage when it comes to credit card fraud. In the event of a fraudulent credit card charge, the merchant is first faced with the loss of the merchandise, which in most cases is irreversible. Then, the cardholder’s bank (the card-issuing bank) takes the hit for the lost funds, meaning that they’re responsible for refunding the person who was the victim of fraud. These banks, however, often look to the merchant for reimbursement, claiming that the business didn’t take the proper measures to prevent the fraudulent charge from occurring.

Come October 1, what we know about fraud liability will be flipped upside down. In essence, once the shift hits, the fraud liability will transfer to the party that has not adopted the new EMV chip card technology.

Here’s a detailed look at how the liability shift will affect your business, depending on the situation in which fraud occurs:

Situation 1: A magnetic stripe card is swiped at an outdated terminal

The merchant hasn’t gotten around to updating their terminals, but lucky for you, the fraudulent charge was made with a traditional magnetic stripe card. In this situation, both parties—the merchant and the card-issuing bank—are at fault, meaning that the liability falls initially on the card-issuing bank, just like today.

Situation 2: An EMV chip card is swiped at an outdated terminal

This is when things really go downhill for merchants. If a customer comes into your store with a chip-enabled card, but they don’t have the equipment to process it properly, they’ll be forced to run it as a magnetic stripe card. This puts the cardholder at an unnecessary risk for a breach of their payment data. In this case, the merchant has not invested in the more secure chip technology and the card-issuing bank has, so the liability falls on the merchant.

Situation 3: A magnetic stripe card is swiped at an EMV-enabled terminal

A recent poll shows that only one in 10 Americans have received new EMV chip cards from their banks. The cost to replace mag stripe credit cards is starting to catch up with the banks and we can expect a number of consumers to still be using magnetic stripe cards, even after the liability shift hits in October. In this case, so long as you have upgraded your equipment, the liability will fall on the card-issuing bank.

Situation 4: An EMV chip card is swiped at an EMV-enabled terminal

In this situation, all parties have put in the effort to upgrade their payment technologies, so it’s unlikely that fraud would even occur in the first place. However, if a fraudulent charge does occur, the liability would fall on the card-issuing bank.

Contact your merchant solutions provider today to find out how you can get EMV-compliant by October 1.

Abtek is here to help merchants like you make the transition from traditional POS terminals to EMV-enabled equipment. We know that EMV can be confusing, and we’re here to answer all of your questions. Give us a call today at (800) 544-9145 to explore your options, before it’s too late! October 1 will be here before you know it! Follow us on Facebook, Twitter, and LinkedIn.

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Tami Cohorst, our vice president, was recently featured on PaymentsSource, a global online resource for all things payment-related. Take a look at what she had to say about the future of mobile payments, according to data collected from social media:

Mobile payments are quickly becoming an integral part of consumers’ daily lives. In order for businesses to stay competitive, it’s important for them to stay on top of the trends in the industry.

Social media is an important way to accomplish that. It has emerged as a major influence on the mobile payment processing landscape. Payment service providers, financial institutions and merchants are monitoring online conversations and developing processes and technology based on what consumers want in terms of mobile payment experiences.

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Not all credit card processors are the same. Some processors are truly dedicated to your business’s success while others–well, let’s just say they have other priorities. Here are a few warning signs that may indicate it’s time for you to make a change:

They’re Not Open and Honest About their Fees

One of the biggest complaints we hear about other processors is that they’re not honest about the fees they charge. Unless they have something to hide, there’s no reason for a processor to keep their fees a secret. Honest communication is the key to a strong relationship, after all! Here at Abtek, we don’t play games with our clients—we tell them right up front exactly how much they’ll be charged and why. Take a look at our fee breakdown to learn more.

They Don’t Offer 24/7/365 Customer Service

In the real world, a question or problem can arise at any time of day. Your processor should be available to help you solve your payment processing challenges whenever the need arises—even if it is at the crack of dawn on a Saturday morning.

They’re Not in it for the Long Run

Unfortunately, some credit card processors are only in it for the money—and once the money stops flowing, they drop their clients and move on the next big idea. If you get the feeling that your processor is less than dedicated to your success, you should get out, quick, because your business deserves to have unwavering support. One of the easiest ways to tell if a processor is in it for the long run is to take a look at its history. How long has it been in business? Does it have reputable clientele?

Abtek has been in business since 1986—that’s almost 30 years! And ever since our start, supporting our customers has been our number one priority. Our business is built on integrity and because of that, we’ve been able to grow a client base that includes everything from retail to B2B to governmental agencies. Take a look at some of our valued clients.

They Don’t Offer High Tech Equipment

Are the POS systems provided by your processor holding your business back? If you are consistently frustrated with the ancient technology that you’re being forced to use, then that’s a problem. Additionally, if your processor hasn’t yet reached out to you to get your business set up with new EMV-compatible equipment, that’s a sure sign that they’re not putting your best interests first.

BONUS: Abtek will Pay for You to Make the Switch

If you’re not happy with your credit card processor, don’t worry—you don’t have to be stuck in a bad relationship. In fact, Abtek will help you break up with your processor and actually pay to break your current contract! Give us a call today at (800) 544-9145 to get started.

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The old school paper gift certificates not only look unprofessional, but they can be easily damaged or lost and their uses are limited. Today’s “stored value cards” have the capability to do so much more. Here’s a look at how this modern gift card system works.

What is a Stored Value Card, Anyway?

A stored value card is a plastic card that looks and functions similarly to a typical debit or credit card. It’s easy to use, fits nicely in consumers’ wallets and can have a number of different functionalities, including:

Gift Cards + Prepaid Cards – Today, gift cards are often a gift of choice, giving the receiver the freedom to pick out anything they’d like from a given store. When purchasing a gift card, the buyer can determine the amount of money they’d like to be loaded onto the card, making it an ideal, customizable gift option.

Merchandise Return Cards – Allowing customers to return merchandise to your store is great for customer satisfaction, however, it can lead to lost profits if customers are regularly taking advantage of the system. One way that merchants can curb this problem is by offering “store credit” cards, or gift cards that are loaded with the value of the returned item, instead of a full cash refund. This helps to ensure that the money spent in your store stays in your store.

Loyalty Cards – Membership cards, frequent shopper cards, and customer discount cards all fall into the loyalty card category. These types of cards help to keep customers coming back by offering some sort of reward for their patronage each time they swipe their card at your register.

The Perks

So, why should your business jump on board with a stored value card program? There are a number of reasons, but one of the most convincing is the fact that it can significantly increase your profitability. According to GiftCards.com, 72% of consumers spend more than the value on the gift card. That means that you’re making the sale on the gift card, plus more! On top of that, you may be bringing in consumers who might not otherwise frequent your business if they hadn’t received a gift card.

The Future of Gift Cards

It won’t be long before plastic gift cards become a thing of the past. With the increasing popularity of digital wallets, more and more consumers are demanding digital options for spending. But, in the meantime, the important thing is to provide your customers with a reason to return—and a stored value card could be that reason.

Abtek’s FlexCache program features everything businesses need to issue spending credit, from database maintenance to transaction processing to 24/7 helpdesk support. To learn more about Abtek’s stored value card program, visit our website or call us at 1-800-544-9145.

While it can be tempting to integrate “buy now” buttons into a business’s social media campaign, it’s not quite as simple as just “signing up.” There are a lot of logistical challenges that businesses must overcome before they’re able to successfully sell merchandise via social media platforms.

Click here to read more of what she had to say, including the most common challenges business may face as they work to implement this functionality.

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Tami Cohorst, Abtek’s Vice President, was recently featured on Digital Transactions, an online business publication focusing on trends in the electronic exchange of value.

You may have heard the term, “friendly fraud.” It’s no surprise, then, that there’s nothing friendly about it. And it’s quickly becoming a major problem for merchants across the globe.

Friendly fraud, also called friendly-fraud chargebacks or cyber-shoplifting, occurs when a customer makes a purchase online and then files a dispute with his or her credit card company, claiming that the charge was fraudulent or that the product was never delivered.