Do I Need EMV?

Do I Need EMV? paladin data corp pos systemEMV is like any other credit or debit transaction, except that users provide their account information on a card that is embedded with a microprocessor – or smart chip – that interacts with the point of sale device. This helps confirm that the card is valid and, in some cases (when Chip & PIN are used), that it belongs to the person using it.

First introduced in 1993, 1.5 billion EMV cards have been issued, with over 21 million EMV acceptance point of sale (POS) terminals in use worldwide1. Although EMV cards and terminals are not yet common in the U.S., there is growing interest to use EMV to help increase fraud-protection in the U.S., especially when fraud liability shifts from the card issuers to merchants in October 2015.

How do you know if you need EMV? Here are four things to consider:

1. EMV is not a mandate in October 2015.

Contrary to popular belief, U.S. merchants are not required to implement EMV by October 2015. Rather, in October 2015, the liability for counterfeit payment card fraud shifts from the issuing bank to the merchant. If the merchant is the least secure party in the transaction, they will be responsible for the cost of fraud and will not be paid for transactions that are not authorized by the card account owner.

2. Train your employees to better identify fraud.

Some of the best ways to prevent fraud is to catch it at the point of sale. Review the Credit Card 101 guide that contains helpful tips and questions to ask so you can identify potential credit card fraud before running a transaction.

3. Carry breach protection assistance.

You may want to consider investing in financial reimbursement assistance to cover costs associated with a breach.

4. Make sure your local network is secure.

Establish PCI compliance and E2E encryption to protect your store from a credit card breach. Maintain antivirus, firewalls, and network security protocols. Need to know more? Contact Paladin Data Corporation at 800-725-2346.



EuroPay®, Visa®, MasterCard®, are registered marks belonging to one or more unaffiliated third parties that do not endorse or sponsor Mercury Payment Systems, LLC or Paladin Data Corporation.

Portions of information in the article are provided by Mercury Payment Systems, LLC in document MEV002 11.15.

  1. AMEX, Frequency Asked Questions EMV Global and US, April 2013.

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