Monday, November 19, 2012

Brief Update on EMV

First, a quick note of thanks to those who attended my retail and restaurant point of sale workshop last week. We'll take a break and look at what types of workshops to offer in 2013.

Now, on to EMV. As you have likely heard EMV (Eurocard, MasterCard & Visa) is a new set of specifications when it comes to payment processing using chip based credit cards and terminals.  Not all the details have been released but retail stores and restaurants will likely need to have compliant hardware, software and peripherals in place or will end up paying more in merchant service (credit and debit card processing) fees.

It appears that 2015 will be the deadline to start complying with EMV standards.  Since details are vague at this point, I'll keep an eye out for more details as they become available.


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