What is EMV and how it effects my business?

What is EMV and how it effects my business?


EMV, which stands for Europay, MasterCard, and Visa, is a global standard for inter-operation of integrated circuit cards (IC cards or “chip cards”) and IC card capable point of sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card transactions.

In October of 2015, all merchants will want to switch their terminals over to an EMV readable terminal, or they will be liable for any fraud that occurs on their non-EMV terminal.  There are a handful of terminals that will be converted to EMV capable readers.  The following terminals are the most popular:


Many POS systems may or may not be ready by October.  If you use a traditional POS the cost may be considerable as you will need a hardware piece to insert the chip card for each terminal and each unit will need to be upgraded.  Most traditional POS systems charge for upgrades.

Make sure if you use a POS that it will be EMV ready by October.  If you are unsure or want to change to a modern Ipad or Android based POS we have a solution for you through one of our partners.

How will tips work with EMV?

This is a huge point of contention.  Today a server at a restaurant or bar will swipe a card, enter the total and hand the customer a receipt to sign.  Later, when they have time or at end of the night, the tips will be adjusted to that receipt.  In October of this year, that same server will have to create a receipt, have the customer sign it with tip, then swipe the card and add everything at once.  The new chip card will not allow you to edit in anyway, including punching in the wrong price initially.  Once it is swiped thats it.  Price and tip first, then swipe.  

Not only will this be a huge burden on the flow of restaurants but the cost could be significant.   One thing that will help is not everyone will have a chip card day one in October.  The banks issuing the chip cards will be behind and will likely just issue them as they expire.

Why is this occurring? Because the US has the most amount of credit card fraud.

To get info and questions answered contact us below.




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President of Puruz Services