EMV-Compliance Due October 1, 2015 – Are You Ready? Mobius Payments is!
Is your business EMV-compliant? You are responsible for working with your credit card processor to ensure you are capable of accepting EMV transactions. Mobius Payments is ready to help you become EMV-compliant, whether you are a brick and mortar business with a credit card terminal or if your business model deals solely with online transactions.
In a nutshell, if a customer uses a magnetic swipe card and it is a fraudulent transaction, the merchant is not liable; the card issuer will continue to be responsible for the loss. If however, the consumer is using a chip card, but the merchant is not using a terminal that accepts the EMV technology, and it is a fraudulent transaction, then the merchant will be found liable because the card issuer invested in the Chip-and-Pin technology but the merchant failed to upgrade to this more secure technology. If a fraudulent transaction is made with a chip card at a chip terminal, then the card issuer is responsible. The nice thing about it is that in-store credit card fraud is virtually eliminated when both parties are using the Chip-and-Pin technology.
The fact of the matter is that EMV technology may be new to the United States, but it is the standard pretty much everywhere else in the world and it will be the standard here soon. By the end of 2015 every merchant, ISO/MSP (Independent Selling Organization / Member Service Provider) and bank will have to be prepared to manage this transition because responsibility for fraud can shift from the card issuer to the merchant.
Is your business EMV-compliant? You are responsible for working with your credit card processor to ensure you are capable of accepting EMV transactions. Mobius Payments is ready to help you become EMV-compliant, whether you are a brick and mortar business with a credit card terminal or if your business model deals solely with online transactions. Time is running short, Mobius Payments is ready today.
About Mobius Payments:
Mobius Payments, Inc. is headquartered in Los Angeles, California and offers comprehensive and cutting-edge electronic payment processing solutions. We are your premier business partner in facilitating the acceptance of electronic payments for your products and services both online and on the go; featuring a fully secure end-to-end global payment solution supporting all major credit cards, 36 global currencies, support for a variety of integrated shopping carts, ACH, and a wide range of custom-tailored solutions for your business. Mobius Payments is your reliable and strong business partner specializing in high-risk merchant accounts in the US, EU, and Asia.