Prepare your business for the nationwide switch to EMV chip cards. If your POS terminal cannot process EMV cards, you will 100% be at risk in case of a chargeback transaction. However, if you do have an EMV-capable POS, then liability shifts 100% to the bank, and you will be protected from fraudulent credit card transactions.
Change is coming sooner than you think. The United States has so far lagged behind the rest of the world as retailers are now scrambling to integrate the new standard of credit card payment known as EMV -- developed by Europay, MasterCard, and Visa to be a more secure way of paying. Every customer’s card will soon have its own embedded microchip by October 2015
Virtually Impossible to Copy
EMV microchips will soon be embedded into all new credit cards and acts as a tiny computer that is much harder to replicate compared to traditional magnetic stripe cards. This is because every time an EMV card is used for payment, the chip creates a unique transaction code that is impossible to counterfeit.
A New Way to Pay
Swipe is out. The new wave of chip cards are dipped into the POS EMV reader and left in place for the entire payment process as the data flows magically between the card chip and the issuing financial institution. The process may take a few seconds longer than normal but with the added security guarantee, we consider it time well-spent.Read the iPad POS Cyber-Security Whitepaper >
Bindo’s chip + pin mPOS terminal comes equipped with NFC capabilities, and therefore Apple Pay. Integrating with Bindo POS means that Apple Pay can immediately be supported on our POS system.
Starting in October 2015, businesses switching to a chip card reader can reduce liability for certain cases of fraud. Bindo’s Reader for chip cards is the most sophisticated EMV reader on the market allowing merchants to: extend sales outdoors, process sales faster, consult, sell and close any deal simultaneously.
The Bindo EMV Reader reads both chip and magnetic-stripe cards; works with Apple and Android devices, and includes a micro USB port for easy charging.
The Bindo Reader processes chip and magnetic-stripe cards; works with any Apple device, and includes a micro USB port for easy charging.