A start-up merchant services company is helping businesses in America to become fully EMV compliant while at the same time helping them to lower their processing fees. Low Rate Processing (lowrateprocessing.com), wants all businesses in America to avoid the financial hardship that being non-EMV compliant can bring, which includes the financial loss to that business if credit fraud takes place.
Credit card fraud has become a serious problem in America and around the world. Criminals have become more technical minded and more advanced in the ways they commit their crimes and cause hardship. In 2015, over $190 billion was lost in the United States to credit card fraud, which is a shocking figure. The only positive thing from that figure to business owners was the loss was absorbed by the banks. However, since the 1st October 2015, when the new EMV compliance regulations came into force, any loss in now down to the business if they have not upgraded their payment terminals and are not EMV compliant.
According to recent research, 60% of businesses have not upgraded their payment terminals. Finance experts have warned those businesses are now operating with a huge financial risk, that warning has been echoed by Low Rate Processing.
A spokesman for Low Rate Processing who aims to help those businesses become EMV compliant said: “A lot of businesses do not understand how serious the situation can be if they have not installed the new payment terminals. With the increase in credit card fraud, a business that is not EMV compliant could face financial uncertainty if they are forced to compensate for the fraud that took place within their business.”
A business that is EMV compliant is not only avoiding financial loss; they become trusted to their customers who feel safe using their payment systems.
To learn more about becoming EMV compliant and how to reduce credit card processing fees, please visit www.lowrateprocessing.com
About Low Rate Processing
Low Rate Processing are experts in helping businesses to become EMV compliant as well as reducing their transaction fees.
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Company Name: Low Rate Processing
Contact Person: Media Relations
Country: United States