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The EMV Transition & Your Small Business

Posted on Fri, Sep 18 2015 @ 02:01 PM

October 1, 2015 is rapidly approaching. As a small business owner, if you don't know what this date means, it's time to start paying attention.

emv transition

 

What is EMV?

If you have a personal or business credit card, more than likely in the past year you received a new EMV card from your bank. This new card has special chip in it that your old card did not have. EMV is a global payment system that includes a microprocessor chip in debit and credit cards. The intent is to make them less vulnerable to fraud for in-person transactions. Because EMV uses better data security, this standard has been adopted in the United States and the transition is well underway. EMV terminals are already in use all over the world and growing more popular in the United States as the EMV transition is implemented and as integration deadlines approach.

 

Why does this matter to your business?

Starting on October 1, 2015, the liability shifts to businesses (large and small) for fraudulent chip card transactions. This means if you accept a chip card with a magnetic stripe reader(instead of with an EMV-ready reader), your business will be responsible for the cost if the transaction is fraudulent. This could be extremely costly for your business.

 

What do you need to do to be ready?

The time is now to ensure your credit card terminal is EMV ready.  Changing out terminals and processes can be intimidating for many business owners simply because they are not comfortable with the technology. Unfortunately, delaying this transition for your business could ultimately be very costly.

Novera Payment Solutions is here to make the EMV transition simple and seamless for your business. With 24/7 world-class support, upgrading your business card reader(s) couldn't be easier. You'll have the ability to accept credit card and debit cards anywhere at any time; and with Novera Payment Solutions innovative flat fee merchant account, your business will also save a significant amount of money on credit card processing fees.

October 1, 2015 is a mere two weeks away. Contact Novera Payment Solutions for a free consultation on the EMV transition. We are here for you!

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Tags: emv fraud liability, emv credit card, emv transition, flat fee credit card processing, emv

If You Accept Credit Cards, You Must Protect Card Holder Data

Posted on Thu, Jul 30 2015 @ 12:29 PM

In October 2015, merchants will be liable for fraud on card-present transactions if the customer presents a chip card and the merchant doesn't have the proper system (EMV) in place to accept it. This means credit card merchants who don't make the switch to EMV technology may have to pay chargeback fees on any fraudulent transacations that occur.

emv transition

While EMV technology is extremely important, there is much business owners can do to protect card holder data and minimize fraud while they don't have EMV technology implemented.

Card Present Transactions

Confirm the last four on the card match the four digits on the terminal

Before completing the transaction, verify that the last four numbers showing on the terminal actually match the last four numbers on the front the credit card. As a consumer, you may have experienced being in a business and making a purchase where the clerk asks for the card after you swipe it. They are doing this to visually confirm the last four digits match. It's a simple, yet effective way to minimize credit card fraud in your business. Once EMV technology is implemented, this process becomes automated. But while your business is still running magnetic stripes, this step is important.

Confirm the customer is the cardholder

This is as simple as matching the signature on the sales receipt (or signature display) to the signature on the back of the card.  If there is not a signature on the back of the card, request to see a drivers license or other form of ID containing a photo and signature.

Card Not Present Transacations

Destroy card holder data in a secure manner

If you take orders over the phone or have to write down/record card holder data for some reason, it's essential that you destroy in a secure manner and in a timely manner after use. A cross cut shredder is advised.  Be aware, according to the PCI Compliance guidelines, you are not supposed to save or store card holder data in a non-secure environment.

Avoid sending or requesting card holder data through non-secure systems

Never request card holder data via email, and never send card holder data via email.  Never setup non-secure online forms to collect card holder data.

Do not setup non-secure online forms to collect card holder data

Online forms on websites that arenot secured with the proper SSL certificates and form encryption technology are dangerous and vulnerable. They are not secure and they are not PCI Compliant. Do not use them.

Do not store electronic card holder data locally

Cardholder data must be stored only on a server dedicated to processing credit card transactions, protected by a dedicated firewall, and subjected to quarterly security scans. You should not store cardholder data on a web server, laptop, tablet, PDA, or on portable media such as a USB drive. All are highly vulnerable to security breaches and they are not PCI Compliant.

Concerned About Card Holder Data Security?

You should be!

Working with a company like Novera Payment Solutions can help ensure you are meeting all PCI compliance requirements and conforming to industry best practices, enuring your business (and your customers' card holder data) is protected. Combined with our innovative flat fee merchant account pricing model, Novera Payment Solutions not only ensures your business payments security, but also saves your business a significant amount of money in credit card processing fees.

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Tags: accept credit cards, flat fee merchant account, payment processing, emv fraud liability, credit card processing, emv

ISVs - Is Your Software Ready for EMV Smart Cards?

Posted on Fri, Jun 12 2015 @ 12:04 PM

With the liability shift quickly approaching in October of 2015, it is a good idea for merchants to have the EMV security measure in place. While compliance is not mandatory for merchants, those who don’t upgrade to EMV-compliant terminals face a liability shift for fraudulent transactions. Integrated payment solutions that combine software with the latest payment processing systems (including EMV capabilities) are the best choice for merchants.

As an ISV, Novera's WorldPay Link Gateway provides the opportunity for you to easily integrate EMV-compliant  payments into mobile, P.O.S., and even QuickBooks® processing solutions, it can even utilize multiple processor platforms. This new gateway makes it easy for merchants to accept payments anywhere they do business.

Integrated Software Vendors EMV transition

For ISV's the benefits are many, including:

  • Customized Merchant Boarding
  • Dedicated ISV Team
  • Flexible Merchant Pricing
  • Revenue Sharing
  • No Risk
  • Reporting Portal
  • Branded Referral Portal
  • Complete Marketing Support
  • Increased User Adoption
  • World Class platform
  • 24 X 7 US Based Support

Our robust API includes:

  • Oracle Database with 99.999% Uptime
  • Debit, Credit, Check, ACH
  • Gift & Loyalty
  • Retail Finance Cards
  • Auth.net emulation
  • QuickBooks® Integration
  • Processor Neutral

With the WorldPay Link Gateway API, you can :

  • Accept All Payment Types
    Allow merchants to accept payments how and when they want including online, point of sale (POS), mail order/telephone order (MOTO) and mobile credit card payments.
  • Real-time and Batch
    Flexibility to process transactions in real-time or batch processing for efficiency.
  • Stored Profile (Tokenization)
    Limit the risk associated with storing sensitive credit card data by using the tokenization and stored profiles.
  • Recurring Billing
    A robust yet easy to use recurring billing system that can be configured to suit the needs of businesses for membership dues or subscriptions fees.
  • WebPay
    Hosted payment solution that offers complete control over payment processing and customer experience without the costs and burden of security compliance for hosted transactions.
  • Fraud and Risk Management (FRISK)
    A customizable fraud and risk management system that maximizes sales and minimizes risk.
  • Instant Accept
    Payment integration plug-in for QuickBooks® POS to help expand the payment types merchants can accept, process and automatically record them within QuickBooks®.
  • Electronic Check
    This Feature Gives merchants flexibility to accept checks through online ACH, check conversion or check 21 and process them using the same gateway process they use for all of other electronic payments.
  • Shopping Carts
    Offer the ability to integrate into a vast array of shopping carts including Volusion, X-Cart, and OS Commerce

Enjoy Peace of Mind with the EMV Transition

The Novera Payment Solutions team understands that protecting your business and your customers is very important. You will be provided the tools and support you need to help simplify your PCI obligations and EMV integration to reduce the risk of fraud.


Our customers span local retailers, restaurants and corner stores to dentists, plumbers and eCommerce merchants—and every one of them can rely on the 24/7 live, US-based support staff who are highly trained to answer questions and resolve any issues that may arise.

A Company You Can Trust

Novera Payment Solutions, LLC (Novera) based in Atlanta is a registered Member Service Provider (MSP) of WorldPay. and a registered Independent Sales Organization (ISO) with Visa & MasterCard.   WorldPay acquires transactions coast to coast and around the globe ranging from brand name companies you already know to independent businesses in your own community. Point of sale authorization through settlement of funds, WorldPay provides the highest standard of payment processing to businesses ...businesses just like yours. WorldPay also offers seamless support and integration with industry-leading point-of-sale platforms and middleware providers, and it works with POS providers to certify new systems to their network on a ongoing basis.

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Tags: accept credit cards, payment processing, pci compliance, emv fraud liability, emv credit card, emv card, emv transition, credit card processing, isv, emv

The EMV Transition - How It Affects Your Merchant Account : Part 3

Posted on Tue, Mar 17 2015 @ 05:57 PM

How does EMV apply to payment gateways?

Some merchants connect to their payment processor through a payment gateway. Gateways used for card-present transactions will also need to undergo EMV testing and certification. Note that eCommerce payment gateways, which operate in a card-not-present environment, will not need changes for EMV.

 

emv credit card transition

What should merchants consider before making a POS device purchase?

Merchants should understand EMV-compatible POS device capabilities. POS devices that incorporate the EMV standard will be able to use up to four cardholder verification methods:

  • Signature
  • Online PIN
  • Offline PIN
  • No CVM

Determine if the new POS device that you’re considering will have contactless payment capabilities. Many POS devices bundle EMVcapable and contactless (NFC) payment features. This may allow you not only more secure transactions but also more ways to accept payments in the manner your customers want to pay.

What is my timeline for establishing EMV acceptance?

The payment network rules do not require you to switch to an EMV card acceptance process; however, if you do not switch to an EMV card acceptance process by October 1, 2015, you will be held responsible for the costs associated with use of a counterfeit EMV card in a card present transaction at your location.

We recommend that businesses upgrade their POS equipment to a version that is EMV “future ready.”

  • For most merchants October 1, 2015, is the deadline for EMV acceptance capabilities
  • For petroleum merchants using automated fuel dispensers (AFDs) October 1, 2017, is the deadline for EMV acceptance capabilities

How can a Non-EMV-compatible device accept an EMV card for payment?

EMV cards issued to US cardholders will be hybrid versions, meaning the card will have a magnetic stripe on back and chip on front. As a result, EMV cards presented for payment can still be accepted at a non-EMV-compatible POS device (payment terminal).

Is PCI DSS compliance still necessary after EMV POS devices are implemented in my business?

Yes. PCI DSS examine the payment environment and evaluate how your business accesses, transports or even stores cardholder data. PCI DSS compliance will remain a requirement.

Is end-to-end encryption (E2EE) still relevant with the introduction of EMV chipcards?

Yes. The chip in an EMV card protects individual transactions by adding a secret number only the card issuer knows, which verifies that the transaction is legitimate through an EMV-compatible POS device. However, EMV is not designed to encrypt the sensitive card information (Account Number, Exp. Date, etc.). Therefore, it is still possible for thieves to duplicate card data and create counterfeit cards that can be swiped for use at businesses that haven’t upgraded to EMV-compatible or EMV-enable POS devices or could be used with online retailers. Encryption removes this cardholder data for your POS device, which simplifies the scope of your PCI DSS obligations.

Merchants who participate in Worldpay’s E2EE program receive an indemnity waiver of up to $100,000 in total—which includes up to $30,000 in approved compromise associated costs, such as forensic audits and fines, as part of Worldpay’s PCI Program , plus an additional $70,000 if you experience a compromise as a result of the failure of Worldpay’s E2EE equipment to encrypt when used properly. Note, not all card transaction types are available for the E2EE service, and additional terms and conditions apply so contact your Worldpay representative if you are interested in learning more.

EMV capabilities along with E2EE are a great combination for highly secure payment acceptance.

What role will EMV have in payments for the online, card-not-present environment? (Internet purchases)

Currently, the EMV standard exists solely for the card-present, face-to-face environment. Worldpay will work closely with the card associations to monitor any new requirements for card-not-present transactions.

What is Worldpay’s EMV status?

  • Worldpay completed certification with all major card brand networks in 2013 (Visa, MasterCard, Discover & American Express)
  • Worldpay back-office systems incorporated EMV updates into the October 2014 Fall Release system updates
  • Worldpay’s EMV-compatible standalone POS device solutions are available now and incorporate NFC (contactless) capabilities too: VX 520 and VX 680 (wireless terminal). Soft ware to enable EMV will be released by Worldpay before the October 1, 2015, deadline
  • Testing and certification with Worldpay POS vendors is under way

 If you have additional questions, contact Novera Payment Solutions. We’re happy to help.

 

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Tags: emv fraud liability, emv credit card, emv card, emv transition, credit card processing, flat fee credit card processing, emv

The EMV Transition - How It Affects Your Merchant Account : Part 2

Posted on Wed, Mar 11 2015 @ 01:54 PM

What makes EMV transactions secure?

Card authentication, cardholder verification and transaction authorization processes are all enhanced with EMV. Specifically:

Card Authentication: Is the card real? Unique data for each transaction travels between card, the POS device and issuer to ensure authenticity. EMV transactions also create unique transaction data, making captured transaction data incapable of being used to execute additional, new transactions.

Cardholder Verification Method (CVM): This step validates the cardholder as the legitimate owner of the card, using verification parameters set up by the issuer. The issuer of the card determines which of the following four methods will be required for a particular transaction: online PIN, offl ine PIN, signature or no CVM required. EMV supports each of these four verification methods.

Transaction Authorization: Like today’s magnetic stripe transactions, transaction information is sent to the issuer for approval. What’s different is a transaction-specific cryptogram (code) is also sent to the issuer who then either approves or declines the transaction and sends a unique response cryptogram back to the POS device for the card to interpret and validate the transaction. The dynamic exchange of information needed to execute each transaction provides the extra security missing from the static, old technology used in magnetic stripe transactions.

emv transition

How many US credit cards will be EMV-enabled by the end of 2015?

The Aite Group predicts 70% of US credit cards will be EMV-enabled by the end of 2015. It also predicts there will be 4.5 million EMVcapable payment terminals in the US market by the end of 2014, and growing to nearly 7 million terminals by end of 2015. (The Aite Group, LLC, is an organization that provides research and advisory services focused on business, technology, and regulatory issues and their impact on the financial services industry.)

 

What are the key benefits of moving to the EMV standard?

  • Improves transaction security for credit and debit card-present environments
  • Creates common cardholder experience globally
  • Supports multiple methods of cardholder verification (signature, pin, etc.), providing flexibility of payment acceptance without sacrificing security
  • Bundles emerging technologies - POS devices with chip technology are often grouped with NFC (contactless) and mobile; EMV adoption accelerates merchant capabilities to accept payments in new ways

 

When can US businesses expect customers to begin presenting EMV chip cards for payment?

Now. The Smart Card Alliance/EMV Migration Forum in May 2014 estimated chip cards in the US total between 17 and 20 million. It’s important for businesses to develop EMV POS equipment adoption plans now.

 

Should merchants upgrade or buy new POS hardware and PIN pad devices?

Review existing POS equipment or systems to learn if upgrades are possible or whether new EMV-compatible POS hardware must be purchased.

Standalone POS. The only job of stand-alone POS is to authorize and clear payment card transactions and it is the easiest EMV solution to implement.

  • Is your POS device EMV compatible? (Does it have a slot for EMV cards? EMV-compatible terminals have a slot, typically located at the bottom of the terminal, into which the EMV chip card is inserted and read; this slot is different from the side swipe used with magnetic stripe cards.)
  • If POS EMV compatible, will you need to schedule a service call to have EMV software installed or will a remote software download be available? (Ask your payment processor—which is Worldpay if we do your payment processing)
  • Worldpay’s standalone EMV solutions: POS VX 520 terminal and VX 680 wireless terminal. A remote EMV software download will be scheduled before the October 1, 2015, liability shift.

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Tags: accept credit cards, flat fee merchant account, merchant account, emv fraud liability, emv credit card, emv card, emv transition, flat fee credit card processing, emv

The EMV Transition - How It Affects Your Merchant Account : Part 1

Posted on Mon, Mar 09 2015 @ 09:42 AM

What is EMV?

EMV is an open-standard set of specifications that ensures functionality between smart chip cards and payment t erminals. EMV originated as a joint effort among Europay, MasterCard® and Visa® to improve payment safety through better card security and improved standards. Today, EMVco is owned by Visa, UnionPay, MasterCard, JCB, Discover and American Express. Payments industry organizations participate with EMVco as technical and business associates. Worldpay is a business associate in EMVco. Find more information at www.emvco.com

emv credit card transition

 

How are chip cards different from existing magnetic stripe card technology?

The EMV “chip” is a secure microprocessor built into a card or other payment devices (e.g. mobile wallet on smart phone). The chip generates a unique number for each sales transaction, making it extremely difficult to use a cloned card fraudulently on a card-present transaction. Magnetic stripe cards use static cardholder data that remains the same for every transaction, which makes them attractive targets for theft , cloning and use in card fraud. In addition to strong security features, chip technology includes other capabilities—like Near Field Communications (NFC) technology—which lets merchants accommodate both contact and contactless payments.

 

Why are EMV chip cards being promoted as a payment standard in the US?

EMV chip cards are already well-established outside the US, particularly in Europe. Crime migrates to the easiest targets, which right now includes the US. Upgrading to the EMV standard is anticipated to greatly reduce card fraud here in the US.

 

Why will more US merchants move to the EMV standard in 2015?

Beginning October 1, 2015, the major card networks agreed to shift financial responsibility for losses due to counterfeit card-present card fraud to the party using the least secure technology. Merchants that want to avoid this liability should implement EMV chip technology in their point-of-sale (POS) devices before the deadline. Chip and PIN payment devices are deemed most secure for card-present transactions. Ask Worldpay if you need help making decisions about EMV POS device purchases.

 

What does the financial liability shift mean and how will that affect my business?

Merchants who don’t use EMV capable—and enabled—POS equipment aft er October 1, 2015 will be responsible for card-present fraud losses in the following instances:

  • Counterfeit EMV card: Visa, MasterCard, Discover and American Express move liability to the merchant
  • Lost or stolen card: American Express, Discover and MasterCard move liability to the merchant; Visa keeps liability with the issuer

Please note a chip and PIN terminal provides the most secure transaction environment available today.

If you have any questions about the EMV transition, contact Novera Payment Solutions. We are here to make the transition as easy as possible for our clients.

Request Information About the EMV Transition

Tags: accept credit cards, flat fee merchant account, payment processing, merchant account, emv fraud liability, emv credit card, emv card, emv transition, flat fee credit card processing, emv

Some Fraud Liability Will Shift to Your Merchant Account Oct 1, 2015

Posted on Wed, Feb 18 2015 @ 09:28 AM

EMV is coming to the USA and it's time to plan for the EMV transition.

17-20 million EMV cards were in use in the USA as of May 2014, according to the EMV Migration Forum. A report by the Aite Group projects up to 70% of US credit cards will have EMV chips by 2015.

As a result of the EMV transition, some fraud liability will shift to merchants beginning on October 1st, 2015, which is right around the corner.  The Novera team wants to ease your transition to EMV with important information that you need to know. 

We'll be publishing a series of blogs over the coming months to help you with the transition, and we thought the logical place to being is with a basic timeline of the EMV transition.

emv fraud liability

 

EMV Transition Timeline for Merchant Liability

APRIL 1, 2014

The transition actually started in early 2014 with these two items for VISA merchants:

  • VISA : Card issuer liable for all unattended, online chip card terminals that support transactions without a signature or PIN
  • VISA : New, unattended, online chip-enabled terminals must support transactions without a signature or PIN

JULY 1, 2015

VISA : All new and existing unattended, online chip-enabled terminals, except ATMs, must support transactions without a signature or PIN hardware upgrades are recommended by this date.

OCTOBER 1, 2015

ALL CARDS
Counterfeit liability shifts to merchants if a Non-EMV-enabled POS device is used for a card-present EMV chip transaction, except for automated fuel transactions and ATMs (excluding previous liability shift for International Maestro ATM transactions)

AMERICAN EXPRESS & MASTERCARD
Liability for lost or stolen cards shifts to merchants using Non-EMV-enabled POS device
for a card-present EMV chip transaction, except for automated fuel transactions.

DISCOVER & PULSE
Liability for lost or stolen cards shifts to merchants using, 1) Non-EMV-enabled
POS device or, 2) EMV-enabled POS device that does not support PIN for a card-present EMV chip transaction, except for automated fuel transactions.

 

OCTOBER 1, 2017

ALL CARDS
Counterfeit liability shifts to merchants using Non-EMV-enabled POS device for a card-
present EMV chip transaction for automated fuel transactions.

MASTERCARD & DISCOVER
Liability for lost or stolen cards shifts to merchants for automated fuel transactions using Non-EMV-enabled POS device for a card-present EMV chip transaction for automated fuel transactions

As a Business Who Accepts Credit Cards, Here's What you Need to Know About EMV Now

In a nutshell, the USA credit cand debit card payments industry has been chugging along on old technology while the rest of the world has implemented EMV card technology for more than a decade.

As recent data breach headlines suggest, criminals focus on the easiest targets and right now, that is the USA. But not for much longer.

In order to avoid potential liability while ensuring customer transaction security, many merchants plan to implement EMV technology. As a country, the USA is moving toward the EMV standard as a direct result of the payment networks shifting specific fraud liability to merchants starting on October 1, 2015.

The bottom line is that you need to understand what your liability is as a merchant and how to protect yourself.  This is where the Novera Payment Solutions team comes in. If you are aren't sure where to start, or even what questions to ask, please take the time to contact us. Our goal is to make your transition as easy as possible. Our hands-on, consultative approach to the credit card payments industry, not only saves our clients money in credit card processing fees, it also saves them in lost time trying to weave through the complicated maze of credit card processing liability.  Novera Payment Solutions is a team you can count on for all aspects of your credit card processing needs.


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Tags: flat fee merchant account, payment processing, merchant account, emv fraud liability, emv credit card, emv transition, credit card processing, flat fee credit card processing, online credit card payments, credit card fraud

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