Fear Mongering, Liability Shift, POS Credit Cards New EMV Chip Technology

Fear Mongering is the action of deliberately arousing public fear or alarm about a particular issue. I have at least one customer a week contact me to inform me that a credit card processing company has come into their business stating that because of the new chip embedded credit cards being issued by banks they will not be able to accept these cards or will face fines and liability for fraud unless they switch to their processing company. I explain to them that Maitre’d Restaurant Point of Sale System is and always will be PCI (payment card industry) compliant ( currently certified until the end of 2017).

“Creative Marketing” or “Fear Mongering” by hardware OEMs pertaining to US EMV migration is leading to rampant confusion among merchants. Talking to our customers about the real benefits and short-comings of EMV will prove to be invaluable in regard to their comfort-level when it comes time to make an upgrade decision. Because EMV is simply a liability shift and not a mandate, merchants should first determine if the cost to upgrade to EMV is justified. Merchants who regularly experience charge backs or fraudulent card use will likely upgrade to EMV before the deadline, while those that don’t have in-store fraud or disputed transaction issues may be better served to wait until their next POS upgrade to move to EMV – if at all.

Remember, Maitre’d Restaurant Point of Sale System has been accepting emv integrated payments in Canada and Europe for years. As soon as the United States emv protocols are established we will meet with our customers to explain the migration and determine if upgrading makes sense.

For anyone considering a new Point of Sale system for their restaurant, Maitre’d by Smart POS will provide you with the newest, most reliable and secure integrated payment technology along with a feature rich easy to use point of sale system. Contact us today for a demo.