Having the best POS software involves being part of the changes and technology enhancements happening around the world.
Last 1st of October there was a major change that many knew about but some people were caught off guard.
EMV cards Europay MasterCard Visa are the electronic chip embedded on the front of credit cards. These credit cards were the standard since 1996 except in the United States. For some reason the United States kept on doing transactions through the magnetic strip credit and debit cards. The issue with these credit and debit cards is that the magnetic strip is easily stolen by hackers. Hackers can duplicate cards that include the magnetic strip information.
Now, I know you agree with me here that every merchant, retailer or restaurant chain must be protected. Enough was enough! Millions of American were victims of card payment fraud, it was about time to do something about it!
With the EMV chip your information is safer. The chip-as an addition to the magnetic strip- contains exactly the same information, plus further information for identification purposes.
This technology makes it more difficult forfraudsters to hack information as the EMV chip creates a unique code for every transaction, something that was not possible with the magnetic strip. The most important thing about this technology is that since on October 1, 2015, merchants who have not upgraded to EMV compliant technology will bear the cost for card fraud that could have been prevented by EMV authentication. There is no fine or assessment if you don´t upgrade your system, but wouldn´t you want your customers to feel safe at your place? Wouldn´t you want to feel safe? I know I would. But if there is any chance that your customer´s information is hacked then you will be the direct responsible.
Have you up graded your POS system? It´s never too late! That means having the best POS software.