Identity theft and credit card fraud are on the rise, and credit card issuers in the US have stepped forward to take action against such crimes through the EMV standard, a requirement since October 1, 2015, for any merchant that does not wish to assume liability for fraudulent charges made with cards that utilize the older magnetic-stripe technology instead of the "chip and PIN" EMV card security. No retailer wants to assume that liability, of course. What that means for your retail customers is that if they aren't already EMV-compliant—ready to process EMV transactions—then they need to become compliant, fast. Here are three ways you can help them do so.
1. Certification training
As a reseller, your first step should be to acquire the credentials that will enable your customers to feel comfortable letting you lead their adoption of the EMV standard. As with so many other technologies, certifications can go a long way toward assuring customers that you have the necessary expertise. Look into the EMV Value Added Reseller Qualification Program, a certification developed by the PCI Security Standards Council and the Payments Security Task Force for VARs. Becoming accredited will demonstrate your qualifications as an EMV compliance consultant and technology advisor even before you've guided a single customer through the process.
2. Urgency assessment
The October 1, 2015, deadline has come and gone, but many retailers still haven't taken the steps to become EMV-compliant. They may not see an immediate need, because the EMV standard doesn’t call for penalizing non-compliant merchants outright. But the assumption of liability for fraudulent charges could, in the long run, end up costing your customers even more than a fine, such as those levied for PCI compliance violations, would have. Work with your customers in order to determine the volume of fraudulent transactions that they process. If the customer processes a large volume of fraudulent charges, clearly their need to become EMV-compliant is more urgent than if it is low. Plan and budget the customer's transition accordingly.
3. Distributor check
As a reseller, you should never have to undertake a technology shift alone. Your distributor should be able to provide you with the resources, training, and support that you will need in order to deliver the highest level of service to your customers. And, of course, your distributor should be able to provide you with the largest selection of hardware and software to choose from for your customers. Only a distributor that offers both extensive support and an extensive inventory of products and solutions can truly empower you to develop custom solutions optimized for each of your customers' needs. Make sure your distributor meets these standards.
Merchants may see the switch to EMV as a hassle and may not understand the urgency of the need to become EMV-compliant. As a trusted technology and security advisor, it's up to you to help them develop a reasonable compliance strategy and make the transition within budget and as soon as possible.
Need more information before you'll be ready to provide EMV consulting and compliance services? Speak to an Ingram Micro specialist today to learn what you need.