EMV chip cards are the preferred payment method in the United States, Europe, Malaysia, United Kingdom, and many other countries throughout the world. Small businesses that haven’t switched are missing out on potential sales as well as security features that protect you and your customers.
Benefits of EMV Payments
According to a Javelin Strategy & Research report, approximately 15.4 million consumers fell victim to identity theft in 2016. That was a 16% increase from 2015, making it the highest year for fraud that the firm recorded since 2004. In an effort to help stem the tide of unauthorized card use, banks have moved to EMV technology.
Traditional magnetic stripe cards contained information that is permanently recorded and unchangeable. If a magnetic card was stolen, the sensitive data stored on it could be used to make purchases. They were also more susceptible to counterfeiting.
EMV chips work differently. The little metallic square on the card is actually a functional computer chip. This chip will generate a unique transaction code each time it is used. The code cannot be used again. This prevents card duplication. While the system won’t completely stop theft and data breaches, it will make it much more difficult for criminals to make a profit.
What Do You Get with Harbortouch Elite POS System?
The Harbortouch Elite POS system brings you best-in-class solutions that include chip card payment processing. Retailers, restaurants, and bars can offer a better customer experience with streamlined transactions that take less time and provide advanced security protection. What else do you get with this powerful point of sale system?
- Reduce errors and shrinkage through better recordkeeping and less human error
- Spend less time totaling sales or calculating payroll with Harbortouch’s reports
- High-end hardware that can stand up to the demands of any business environment
- Hybrid cloud technology that lets the system continue working even when offline
- Professional installation by a certified technician
- 24-hour customer support plus comprehensive training
Accept the Cards Your Customers Prefer
Consumers must feel confident in your business before they are willing to complete transactions. The first step is accepting the cards that they prefer with the most recent payment processing technology. HaborTouch Elite POS works with all major credit and debit cards, including Visa, MasterCard, American Express, and Discover. Contact us today to find out how you can start accepting EMV chip card payments.