While research EMV Credit Card Processing, I came across an article by franchising.com. Their article titled “Got EMV?: Why You Should, and What’s Ahead” gave an great overview of why you as a business and a franchise should have one. They explained that “With chip-and-signature, someone could still steal your card, use it at a retail establishment and just sign it. No new real security here. As such, there is still a risk of fraudulent transactions at the POS. With chip-and-PIN, there is very little risk of this as the would-be thief would not know your PIN (unless you wrote it on the card).”. So as a consumer you have more protection against loss if someone has your card.
As a retail merchant, there are a few good reasons to switch over to the new POS platform. One good reason will be a reduction in credit card charge backs. This may not seem like a big deal, but for a small business this can present some challenges.
Another reason is better protection for your customers which will leave you with less risk. You as a business own have enough to worry about, your merchant payment processing should not be one of them.
Tom Epstein of Franchise Payment Networks suggests that if you have a lot of “card present” transactions you as a franchise or business owner should be looking at adding EMV readers.
So who do you go with as a merchant services company. How do you find the right company to service your needs? If you are in the Central Florida area we recommend a company called ARX Payment Services. They have been in the payment service industry for more than 20 years. They are a boutique firm in the merchant services and credit card processing industry located in Orlando, Fl. They are so confident in their service they will give you a no-cost audit for any new merchant and will analyze pricing, technology, accounting reconciliation and risk/fraud prevention.
For more information about ARX Payment Services visit them at https://arxpay.com/.