Month: July 2015

EMV October deadline:

The EMV October deadline for compliance is fast approaching! There are many good reasons for merchants to change over to the new credit card processors as quickly as possible, not the least of which is increased liability if they don’t. Experts do expect the roll out of the new card readers and technology to span several months if not years. 50-70% of businesses are expected to be in compliance by the end of 2015, with another 5-10% coming on board each month thereafter.

It’s also estimated that somewhere between 600 million and a billion EMV cards will be issued by the first of 2016, with 40% of those predicted to be debit cards and the rest credit cards. Debit cards are predicted to roll out slower due to the banks having to upgrade their software to accommodate the new chip technology.

Jul 27, 2015

Liability for fraudulent credit cards shifts

Until September 30, 2015, if an in-store transaction is conducted using a counterfeit, stolen or otherwise compromised card, consumer losses from that transaction fall back on the either the payment processor or issuing bank. The merchant isn’t held liable.
After an Oct. 1, 2015, deadline, the liability for card present fraud will shift to whichever party is the least EMV-compliant in a fraudulent transaction. For example, if a card with the chip is presented at a card terminal that doesn’t accept the technology, and the card is counterfeit, the cost of the fraud will fall back on the merchant.
The major credit card issuers, American Express, Discover, Mastercard and Visa have published and delivered detailed schedules about the upcoming shift in liability. The new shift in liability is intended to help bring the entire payment industry on board with EMV by encouraging compliance to avoid liability costs.

Jul 21, 2015

EMV – Are you ready for the shift to EMV?

EMV, which stands for Europay, Mastercard and Visa, is the new global standard for credit card security coming about in October of 2015. After numerous large scale data breaches and rapidly escalating incidents of counterfeit cards, U.S. credit card issuers are transferring to this new technology to help protect consumers as well as reduce the costs of fraudulent transactions.
The new technology involves both a card with a computer chip embedded in it, and new equipment used to authenticate chip-card transactions. Consumers will receive and need to activate new cards and learn the new payment processes. The new cards will provide greater protection against fraud. Merchants will need to upgrade their current credit card readers to the new EMV readers to take full advantage of the fraud protection offered by them.

Jul 14, 2015

Harbortouch time card functions

A Harbortouch POS system offers a number of valuable functions to maximize your business’s profits and efficiency. It is far more than just a cash register, it tracks both your customers and employees as well as your inventory. It helps your management manage as well as provide tracking of their management efforts.
Managers, owners and employees have different access levels and permissions on the Harbortouch POS system, allowing information to be securely gathered without chance of altering key information like sales or employee hours. Managers can access a complete employee database showing specific details for each staff member, to track hours worked, edit timesheets, calculate overtime, evaluate sales performance and manage secure access levels.

Jul 8, 2015