EMV is a global standard for credit and debit cards based on chip card technology. Issuers around the world are including chips in bank cards and merchants are moving to EMV-compliant terminals to increase security and reduce fraud resulting from counterfeit, lost and stolen cards.
In an effort to help boost merchant adoption of secure payment terminals, American Express® plans to introduce its Small Merchant EMV Assistance Program to reimburse qualifying businesses that upgrade their terminals.
As 2014 draws to a close, let’s review the progress that has been made in the United States’ transition to EMV® technology as we catch up to the rest of the world in adopting this more secure standard for credit card processing.
As 2015 quickly approaches, it’s a fitting time to take inventory of the present year and make some plans for the next. For merchants, adding ProcessNow® to your business offers a change for the better to advance your personal and professional growth.