October is come and gone and retailers and consumers are seeing changes in how credit cards are accepted. Just recently at Home Depot I was prompted to use my credit card’s chip and pin to finish a transaction. The world of “swipe” and “sign” is just about over.
I’m working with Shopkeep on a new video series, “Future Proof Your Business” helping retailers get the most out of technology and ensure they can serve their customers better, manage inventory, better lead their employees and so much more. The first video in our series is all about EMV – the change from “swiping” your credit card to using “micro chip” technology and a pin to enhance your security.
Banks are doing everything they can to reduce fraud, forcing retailers to upgrade their payment processing systems to “EVM” compatible systems.
Some news articles report that EMV upgrades are a pain, yet some retailers find that the switch is not that bad. There’s several variables – like who are you partnering with for the upgrade, what are the existing systems you have and other options that go into upgrading from a traditional point of sale system to one compatible with the new EMV specifications.
Retailers using an iPad-based point of sale system can best ensure that they’re businesses are as future proof as possible and ready for the evolution of retailer transactions.