A "shockingly muted" response from retailers seems to indicate that many are still lagging behind in getting EMV-compliant, a stance that could be very costly in potential fraud liability and in loss of customer goodwill.
While industry insiders suggest merchants may have delayed this important security upgrade because of limited fund availability or a desire not to disrupt payment systems during the lucrative holiday shopping season, those reasons won't stand up any longer. So how can you help clients get past their excuses and get EMV-compliant as soon as possible?
While many business owners are looking at the EMV transition as a negative, you can turn that view around by focusing on the positives that EMV compliance will bring. Here are just a few.
Expanded payment options. For merchants with older POS technology, upgrading hardware and software for EMV offers new options for mobile POS (mPOS), mobile wallet acceptance, and near-field-communication payments.
Higher security at the POS. While chip cards protect cardholder data during card-present transactions, mobile payments also feature tokenization and end-to-end encryption that will keep valuable card data out of the hands of criminals.
Increased customer confidence. At the end of 2015, more than 50 percent of consumer credit cards in the United States were issued as chip cards. As customers see and hear more about the security benefits of these cards, they'll expect them to be accepted wherever they shop.
2. Recommend a complete solution
Delays in planning for and implementing a new technology like EMV often result from a fear of change on the merchant side. It's much easier to maintain the status quo than to move into unknown territory. That's where your role as a value-added reseller can make a difference.
You’ll serve as a guide for your clients during the entire process, from planning to installation. You'll help the business owner gather information about the existing POS system and discuss plans for the future. By identifying upcoming business moves, you can help your client fold those needs into a comprehensive EMV transition plan.
Then you'll want to ensure that all POS terminals (including any mPOS devices) get EMV-capable hardware and compatible software. This is a great time to review the security of the entire system, especially wireless networks used for mobile payments.
Finally, remind your client to allocate time for installation and system testing. As with any system upgrade, new hardware and software may not mesh perfectly the first time. For those business owners looking for an end-to-end solution, you can recommend qualified partners for complete system rollouts, installation guidance, and asset disposal.
If you have clients that are not yet EMV-compliant, make the time today to talk with them about upgrading their POS systems. There won't be a better time to get started.
What strategies are you using in order to help customers get EMV-compliant?
ABOUT THE AUTHOR
Jeremiah Shea leads Ingram Micro’s DC/POS Payments Program and provides support for vendors like Verifone, Ingenico, Magtek, ID Tech, and Equinox. He has been part of the DC/POS division at Ingram Micro now for five years, working with all facets of the business for strategic execution. Jeremiah has also become the subject matter expert on EMV readiness and overall payments strategy. With a technical background and a sound understanding of the business, he is a great resource to tap for any and all questions relating to EMV, but more broadly anything DC/POS related as well.
Phone: 1-800-456-8000 ext 64810