While comprehensive data for the end of 2015 aren’t yet available, most industry reports are indicating that merchant EMV adoption remains below 50 percent, with even lower adoption rates among small to medium-sized businesses and very small businesses. That means that merchants that haven't yet upgraded to EMV could be taking on unneeded liability for fraudulent transactions.
While EMV payments at the point of sale (POS) make it nearly impossible to copy cardholder data from the magnetic stripe and create counterfeit cards, most agree EMV adoption should be just one part of a layered approach to card security.
That's why you'll want to work with your clients in developing a payment security plan that complements the benefits of EMV and helps combat potential security concerns with the new technology. Here are three strategies you should be recommending during the EMV adoption process.
Ensure complete EMV integration with the POS solution
Upgrading payment terminals is one of the first steps in EMV adoption, but a secure POS demands more. That means checking with other vendors in order to ensure that the entire system is working properly following the upgrade.
Your clients should be working with software providers, payment processors, and other third-party vendors in order to ensure the new terminals connect securely and prevent unauthorized access. And you should recommend regular reviews of the system in order to ensure that software stays up to date and there's less opportunity for malware and viruses to enter.
Select EMV-ready mPOS solutions
If your clients already have a mobile payment solution or want to move in that direction, adding mobile point of sale (mPOS) during EMV adoption is a great strategy. Here's why.
More and more mPOS devices on the market are EMV-compliant and certified by the major processors. Adding both technologies now means that merchants can stay ahead of any compliance issues with payment processors and acquiring banks and can give customers a greater sense of security when making card payments.
And many of the existing mPOS solutions—like Apple Pay—employ advanced tokenization technology, meaning that card numbers are never exposed during the transaction.
By adding encrypted and EMV-ready mobile card readers, merchants protect themselves from potential liability and, at the same time, give customers more payment options.
Monitor for unauthorized devices
While EMV-compliant terminals prevent opportunities to skim credit card data, the current generation of card readers still accepts magnetic-stripe cards. That means that business owners should stay on the alert for unfamiliar devices connected to card terminals.
It's a good idea for merchants and their employees to become familiar with the appearance of all POS devices and check equipment each day for anything that doesn't belong.
While EMV adoption may cause some additional security concerns, you can help your customers navigate needed upgrades, leaving them with a stronger, more secure POS system.
What security concerns are your clients experiencing during the process of EMV adoption?
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