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EMV – What is it and how does it effect me and my business?

The new “800 Lb gorilla” in the room is this thing called “EMV”.

What is EMV?

In short EMV is the chip technology that has been rolled out in Europe and Asia basically across the world with the exception of the United States.

EMV “Chip Technology” provides card issuing banks the ability to issues credit cards with an embedded chip.  The new chip technology allows a merchant to accept a credit card sale by simply waving the card in front of an EMNV capable credit card terminal.  In essence it is a contact less sale.

What is the advantage of the new EMV technology?

According to the experts in security, this is a much more secure way of transacting a credit card sale.  Once this technology is rolled out, it will be next to impossible for a their to “skim” credit card information or copy credit card numbers from a credit card.

In our world of data breeches and credit card number theft, the new EMV technology is designed to make processing credit card sales more safe and secure.

Am I as a business owner going to be mandated to to upgrade to this new technology?

The short answer to that is “Yes”  It is going to be a matter of “When” not “If”.  As it stands it looks like the mandates will be put into effect in the fall of 2015.  Since there has been a number of large data breeches, the time lines for deployment have been stepped up.

Can I  use my current credit card terminal or am I going to have to get a new terminal(s)?

We are sure you already know the answer to that question….”No”.   Merchants who accept credit cards in person will need to get a new EMV terminal or if they are using a software or web based solution, they will be asked to upgrade to a EMV terminal or EMV capable card reader.  This pertains to mobile devices as well.

What happens I choose not to upgrade to an EMV terminal?

If you are worrying if your rates will go up, they shouldn’t.  BUT !, if a merchant does not comply wit the new regulations, there will be a shift in liability from the banks to the merchant for fraudulent credit card activity.  What does that mean?  If you have fraudulent credit card sales process through you business, and you don’t have an EVV terminal, the financial fines and liabilities are staggering!  Who needs that?

Do I need to get a new terminal if I do not accept credit cards in person?

As of right now, you will not be required to new terminal.  EMV technology is based on a “Wave” of the card an obtaining an electronic signature or enter a PIN number.

OK, it looks like I need to get one of these new terminals… Where do I get them?

Before you start ordering terminal, you have time to see what the market will be providing as options.  The most important thing to do is not rush into something new.  Stay in touch with us and we will walk you through the process of getting the proper terminal(s) for your business.

ONE WORD OF WARRINING !!!  There are a lot of  “Scams” being inflected upon merchants today.  Companies are calling merchants and scaring them into entering in to long term expensive leases on new EMV terminal.  Don’t get fought upon a phone scam.  If you get a call that is pushing you into upgrading, gracefully exit the call AKA “Hang UP!” and call Spire Payment Solutions.  We will not force you into a terminal or a lease  that is not in the best interest to your business.

If you have further questions regarding EMV give our office a call (800) 545-5612 or (503) 639-5577 and ask for John Jordan or email John with your questions at

If you would like to see our EMV terminals, click on this link: EMV Terminals