Implementing an EMV Payment Terminal Solution

Implementing a payment terminal solution is a common challenge for modern businesses that need to be able to handle payment processing of both card-present and card-not-present transactions. The challenge has grown with the shift in EMV liability, as EMV certification is a critical component of any chip card terminal solution.

Companies dealing with implementation of card-present solutions fall into one of two categories. First are the new companies that are still getting established, and may not have a credit card terminal at all. The second category is companies that already have a pos solution in place and need to increase the functionality of their existing solution, or upgrade their system. Regardless of whether a company has a solution in place already or needs to develop a system, there are a number of vital steps that must be completed. These steps include: selecting a payment terminal and terminal applications, establishing a fulfillment process, and, for many companies, EMV certification.

Every one of these steps requires a business to consider a number of important questions, including deciding what functions are needed from a terminal application, whether the company needs to be able to handle EMV contact transactions, EMV contactless transactions, or both, whether an integrated terminal solution or a standalone terminal solution is desired, whether mobile solutions need to be included, how many devices will be used, and which devices need to be EMV certified, among others.

It is important to keep in mind that there are currently few large manufacturers of payment terminal solutions and, depending on what you need, your options may be limited. For many companies, choosing EMV solution hardware is the final step in this process. Because there are few payment terminal manufacturers, you may find that there are some limitations in the availability and compatibility of  payment terminal software options, which may limit your options.

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