How To Get Started In Being EMV Compliant

Ingenico EMVWhen it comes to making sure your business is compliant with upcoming EMV guidelines for credit card processing, planning is everything. Like other credit card companies, Visa has been working with stakeholders, including small businesses, to make sure they are prepared. Here are some steps the company says you should take to assess the readiness of your payment system for the chip platform, and understand what’s required when making a fundamental shift in technology.

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1.  Assess Your Current Payment Software Situation

Document all of the payment processing technology you are currently using. This will help you identify gaps between where you are now and where you want to be, and determine what your team needs to plan in order to close any gaps. Your documentation should include current payment data processing flow charts, hardware in place, software requirements, financial resources available, etc. If applicable, include any future strategic plans that are under consideration regarding upgrades or modifications to your current environment (for example, if you plan to open another store).

2. Build A “Knowledge Base” Of Outside Parties

This will include your credit card processor, POS supplier, software vendors, etc. You should plan to have different conversations with each of them:

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• POS companies: discuss chip acceptance needs, any POS devices (stand-alone or integrated), potential changes to customer interactions and transactions, and expected timeframe for delivery of new devices.

• Software vendors: discuss changes to your current payment system and timeframe for new product delivery.

3. Conduct A Merchant Needs Analysis

Compare your current payment processing infrastructure and requirements to those needed to support an EMV chip acceptance upgrade. Identify the business and technical/non-technical (e.g., terminal branding, POS messaging, training, etc.) requirements you must meet and the functions/tasks you must complete.

4. Initiate And Review Your Internal Plan

Once you have a clear idea of what’s needed throughout your company, finalize your planning for implementation. Set up a roadmap that includes technology requirements, budgeting and a timeline. Make your final decisions on how to replace current equipment and software, and who you’ll be buying them from. Your current suppliers should be a key resource in all of this, as they will be up to speed on what they need to bring to the table.

5. Meet With All Outside Partners To Finalize Implementation

Make sure they are on the same page with you when it comes to an adequate implementation deadline, budget and cost and perhaps a contingency plan if there’s a delay. Keep the dialogue going regularly, and continue to monitor costs and deadlines.

6. Test Your System

Your credit card vendor might require that you test all payment stations and terminals to ensure proper EMV chip functionality. Even if they don’t require this, it’s still a good idea to do so. Make sure your team and your whole staff know when this testing will take place. Make sure to test every device until all of them pass properly.

7. Train Your Entire Staff

Ensure your sales staff is trained on the basic procedural differences between magnetic-stripe and chip card acceptance. Key points to cover with your team include

• Chip cards are inserted into the chip reader and must remain inserted until the transaction is complete. This differs from the magnetic-stripe method, where the merchant swipes the card and immediately removes it in a single motion.

• Early removal of the chip card from the reader will terminate the transaction. Any message that signals when a transaction is completed should be clearly identified. Retailers and their customers should be educated to remove the card from the terminal only after seeing this message.

• Staff should prompt cardholders to insert the card into the chip reader rather than swiping the magnetic-stripe. This will make the transaction process faster and mitigate the potential problem where an issuer may have incorrectly personalized the card with a service code that does not correspond to a chip card.

3 Things You Need To Know About EMV Compliance

Epicor Software has been on the front lines in dealing with upcoming EMV compliance issues. Sam Kirkland, national accounts manager, and Harry Hartnup, senior manager of technical services, present three things all retailers, including farm marketers, need to know about EMV compliance.

1. Beginning October 1, 2015, liability for credit card security breaches will shift from the banks to the retailers. “Even if your processor is not ready by October 1, the hardware has to be in place,” Kirkland says. “If you aren’t ready by then, you’re accepting more liability than you need to.”

2. Your entire business needs to be compliant. “Many times business owners will contact their credit card processor and ask about PCI compliance, and will hear that the software being used now is compliant,” says Kirkland. “This will leave the owner with the perception of the business being compliant. But the software is only a part of what it takes to make a business operate within the PCI Compliancy Standards. All aspects of the business come into play with PCI, from business practices and hardware to Internet security and software. This is a very complex issue business owners are facing, and I hope everyone has partners they can leverage if they need assistance sorting it out.”

3. Don’t panic if you miss the deadline. Only about 5 percent of all merchants were compliant leading up to October 1, 2015. But it’s not a good idea to wait too long, either. You risk being financially liable for breaches, a loss of funds for your farm market and a collapse of trust from your customers, a needed element anytime you are entrusted with providing food for the dinner table.

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