Growing pains are to be expected, and no switch over to a completely new system is ever completely smooth, but the new dip technology is working and reducing fraud. Businesses must now embrace the new technology itself. As of now, approximately 38% of all businesses have implemented the new processing system. Now granted, Gas stations have until October, 2017 to change over to the chip program, but there is still a short fall of businesses that are not using the new chip technology.
The switch has 2 benefits for businesses and consumers. In this day and age of major companies having their secure data bases broken into and having data stolen, and even the government at the level of the IRS, hacked, Consumers are protected from their most basic transactions through emv chips. Businesses also gain a level of protection as their processing bank will now only cover fraudulent transactions that have been processed via the chip processing program. Most businesses can ill afford a chargeback from a stolen or fake credit card, and if not processed correctly, the liability falls squarely on their account.
To stop this from happening, make sure you are using the correct processing terminals, and switch all of your credit card processing to chip technology. Your business will be protected.
To contact Samantha Charles email at www.unitedCardSolutions.com
Company Name: United Card Solutions
Contact Person: Samantha Charles
Phone: (844) 838-3085
Country: United States