Point of Success version 3.7 was released on December 2, 2015. With this release comes full support for EMV transactions with Vantiv Integrated Payments.
EMV uses chips embedded in credit cards for processing rather than a simple magnetic stripe. Businesses that accept credit cards are not required by processors or by law to process credit card transactions with the new chips, but there are big advantages, especially when using Vantiv Integrated Payments:
- When an in-store transaction is processed using EMV equipment, a merchant will not receive a chargeback if a counterfeit credit card is used. This is what has been referred to as the “liability shift.”
- With Vantiv EMV processing, a technology called “End to End Encryption” is used. This means that all credit card related information is encrypted in the device used to read the card and not decrypted until the transaction reaches Vantiv. This means that you have virtually no chance of a credit card data breach if you use EMV processing!
- With Vantiv EMV you also get the ability to process transactions using Apple Pay, Android Pay, or any of the other similar NFC services that let your customers pay with their phone. These payments are completely secure and as convenient as paying with a card. Your customers will love it!
Contact your Point of Success Dealer or Point of Success at (800) 752-3565 for more information.