Change is hard. Especially for merchants busy running a successful business.
Often the last thing many business owners want to spend time on is updating front-end and back-end systems like the point of sale (POS). But that can be a mistake, especially when it comes to the recent EMV transition.
Ignoring or delaying needed EMV upgrades can create increased liability for fraudulent transactions and put merchants at risk for data theft. And the loss of customer trust and a weakened brand can often multiply financial losses.
Deploying the most functional POS solution offers customers a wider variety of payment options and gives business owners much more data about what those customers are buying. That means more satisfied customers and higher business revenue.
So how can you simplify EMV adoption for your clients?
Clarify what EMV adoption can and can't do.
As you begin talking with customers, you can play a role in managing their expectations about the EMV transition. For those who are more skeptical, you can make the case for increased card-present security. And for those with businesses that include e-commerce transactions, you can help them add complementary encryption and tokenization in order to secure card-not-present payments.
Educate clients about the process.
EMV upgrades won't happen overnight, and you can help customers adopt a realistic timeline from the start. Steps in the process include evaluating the current POS solution, recommending appropriate replacement card terminals, and integrating the new components into the overall system.
Plug security gaps.
The last thing a business owner needs is to begin the process of EMV adoption without addressing potential security issues. While chip cards prevent fraudsters from stealing data and creating counterfeit cards, you'll also want to help clients identify weaknesses in the overall security plan. Penetration testing will show clients where gaps exist and provide simple recommendations for closing them.
Offer complete solutions.
Many business owners recognize their own lack of expertise when it comes to POS solutions. And they may prefer having someone else come in and recommend components for the EMV upgrade and handle the deployment of new systems. So be sure to let your clients know that you can provide a complete solution, one that replaces card readers, configures hardware and software, and provides end-to-end installation guidance. It's also a good opportunity to offer mobile POS and traditional solutions that can handle mobile wallets and near-field-communication payment technology.
Help clients educate their customers.
While many larger chain stores in the United States are further along in EMV adoption, many consumers have not yet completed a payment by "dipping" a chip card. And that means front-line employees will provide much of the customer education. Offer your clients strategies to educate managers and associates so that they can prevent customer frustration and confusion and see the new system as a positive change.
While business owners may see EMV adoption as just a necessary evil, you can show them how these changes can pave the way for a smoother and more secure payment process.
What strategies are working for you in simplifying EMV adoption for your clients?
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