Person using a chip card/EMV card

What is EMV?

Cash transactions are becoming rarer every day as consumers make the switch to credit and debit cards. Businesses must offer these payment options to stay competitive. Fortunately, today’s credit card systems for small business are more secure than ever, thanks to EMV technology.

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credit card chip system

Easing Smart Chip Hassles

Though US consumers only hold 24 percent of the world’s credit cards, they are the most frequent targets of stolen data. In fact, a 2015 reports notes that 47 percent of global credit card fraud happens in the US. Major incidents involving stolen data from retail and restaurant chains made international headlines and caused those companies massive financial losses. One of the primary reasons that US cardholders have historically been easy targets is the country’s long delay in adopting smart chip credit card systems.

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Credit Card Payment App Attached To Mobile Phone

Mobile Card Processing Do’s and Don’ts

Mobile credit card processing lets vendors take payments from almost anywhere and is becoming increasing popular. According to a BI Intelligence report, the amount of businesses taking mobile payments will grow 80% from 2015 to 2020.

However, mobile processing brings with it unique challenges and potential weaknesses. By following a few key principles for mobile payment systems, users can ensure a smooth and secure process for both vendors and buyers.

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