Despite the increased security provided by chip cards, some users and retailers are concerned about processing times and delays they’ve encountered at the point of sale (POS). Fortunately, there are steps business owners can take to help streamline the checkout process.
If you’re a business owner who’s still on the fence about upgrading your payment processing equipment to accept EMV cards, consider this: Not only will the update help prevent potential financial responsibility for fraudulent transactions, but you can also realize the added benefit of being able to process NFC transactions at the same time.
The terminal is the workhorse of credit card processing. Without it, the job just doesn’t get done. Consequently, it’s important for merchants to have a basic understanding of how a credit card terminal works so they can choose the right one for their processing needs.
A new study by the Federal Reserve Bank of Richmond reveals that the Durbin Amendment, originally intended to save retailers and consumers money by reducing swipe fees for debit card transactions, has come up very short.