If you're looking for the best EMV credit card machine, you've come to the right place. In this guide, we'll show you everything you need to know about EMV credit card machines and how to choose the right one for your business.
What is an EMV Credit Card Machine?
EMV stands for Europay, Mastercard, and Visa. It's a global standard for credit and debit card payments that uses chip-based cards instead of magnetic stripe cards. EMV credit card machines are point-of-sale (POS) terminals that are equipped to read these chip cards.
Why Should I Get an EMV Credit Card Machine?
If you're doing business in the United States, you should consider getting an EMV credit card machine. That's because beginning in October 2015, there was a major shift in liability for fraudulent credit and debit card transactions. Prior to this date, if a customer used a counterfeit, stolen, or otherwise compromised card to make a purchase from your business, your business was held liable for the resulting fraudulent charges.
However, as of October 2015, the liability for these types of fraud shifted to whichever party is the least EMV-compliant. In other words, if a customer uses a counterfeit card to make a purchase at your store and you don't have an EMV credit card machine, you will be held liable for the resulting fraudulent charges. On the other hand, if you do have an EMV credit card machine and the customer's bank doesn't support EMV chip cards, the bank will be held liable.
In addition to this shift in liability, there is also a financial incentive for businesses to get EMV credit card machines. That's because, as of October 1, 2015, businesses that don't have EMV credit card machines may be subject to higher interchange fees (the fees charged by credit card companies for processing card transactions).
How Do I Choose an EMV Credit Card Machine?
There are a few things you'll want to keep in mind when choosing an EMV credit card machine for your business. First, you'll want to make sure that the machine is compatible with the type of POS system you're using. Second, you'll want to consider the features and capabilities that are important to your business.
Third, you'll want to compare the costs of different EMV credit card machines. You'll want to consider the upfront cost of the machine as well as the ongoing costs, such as interchange fees and transaction fees.
Finally, you'll want to read reviews of different EMV credit card machines before making your final decision. This will help you get a better idea of which machines are the most reliable and user-friendly.
