EMV compliance is a critical matter for modern day merchants. Becoming EMV compliant begins with an EMV compliant point-of-sale terminal solution. An EMV compliant POS terminal allows the merchant to accept payments on EMV chip cards. The specific strategy a merchant will use to implement the EMV standard will be based on whether the merchant already has an EMV compliant POS in place.
A merchant that lacks any type of POS solution will need to establish compliance from nothing. A merchant that has a standalone terminal solution from a merchant services provider that is not integrated with the POS system may be able to contact the MSP about acquiring an EMV terminal solution. If the provider does not offer EMV compliant terminal solutions, the merchant will need to look for a new service provider offering a suitable solution at an acceptable price.
A merchant that uses an integrated POS terminal solution offered by a MSP may either work with the current MSP to obtain EMV compliant terminals, or look for a new MSP. This may require developing a new strategy for integrating EMV standards.
Merchants that have developed their own payment terminal application rather than acquiring one through a MSP will need to go through an EMV certification process.
To learn more about how to become EMV compliant, feel free to contact us.