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to protect your business from the devastating
consequences of a data breach. Learn how
EMV, tokenization and encryption can protect
your data on every level.
Getting EMV-ready
Step 1: Analyze your current situation
Start by evaluating the system that you are
presently using at your business. Try to get a
sense of what you will need to do in order to
implement a system that is EMV-ready. Is it
EMV-capable or ready? Does your software
need to be updated and what is the cost? Is
your POS provider ready for EMV acceptance?
Do you need new payment hardware—PIN pad
or signature capture pad? Is EMV contactless
a need for your business?
A common misunderstanding is thinking you
are set up to accept EMV cards if your current
POS system is equipped with an EMV reader
slot. POS suppliers have been manufacturing
EMV terminals for several years to comply
with Europe and the rest of the world. In
simple terms, the U.S. is the last developed
country to roll out EMV, but many U.S.
POS systems have either not developed the
application code to accept EMV or certified to
their processor for EMV acceptance, rendering
that slot completely useless until the system
is upgraded. There are also terminals, PIN
pads and signature capture pin pads deployed
that have EMV readers but may not be of a
security standard level necessary for EMV
card acceptance.
Next, evaluate if you should change your POS
system, PIN pad or acceptance terminal.
If you installed your POS years ago, there will
likely be a cost associated with upgrading both
the hardware and software required to accept
EMV payments.
If you haven't already done so, spend some
time researching cloud-based POS solutions
that may offer superior features and functions
with an easier user interface. Switching to
a new POS provider and system altogether
could be significantly less expensive and more
beneficial long term than making the necessary
upgrades with your current legacy POS vendor.
Step 2: Make the call to your POS provider
and acquirer/processor
Talk to your POS provider about how they plan
to adapt their hardware and software to meet
the new EMV standards. Your vendor should
be knowledgeable about EMV and currently
preparing to roll out the software updates and
new hardware required to ensure that their
