EMV Technology and the United States Consumer | casinogensnet.ga

EMV, also referred to as Europay, MasterCard and Visa, is the process of operation for integrated circuit cards (IC cards) and IC-capable POS stations. Operating as a joint effort between MasterCard, Visa and Europay, this new technology was created to provide user security and global usage for Visa and MasterCard owners.

EMV technology is globally operational and can be used seamlessly for:
• ATMs
• Contact card transactions
• Contactless card transactions
• Mobile transactions
• eCommerce or online transactions

How EMV Technology Works
The overall flow of payments is the same with EMV as with other credit card transactions, but EMV also utilizes an authentication with its built-in chip technology, which results in higher security for all EMV-related transactions. The overall process includes:
• A card authentication through online or offline encryption
• Cardholder verification to ensure the person using the card is authorized to charge on it
• A final transaction authorization that can be complete online or offline using issuer-created parameters

EMV technology still protects the consumer during “card not present” transactions, such as over the phone or through mail order. To process a “card not present” transaction, the merchant must manually input the PAN key entry, expiration date, and the three-digit security code for the card to process the authentic authorization.

Why Use EMV Technology?
Today’s payment industry is ever-changing. With technology rapidly evolving, merchants and consumers need something that can keep up. Tech-savvy consumers rely on their digital devices, especially when it comes to making payments quick and convenient. Since merchants are under pressure from credit card issuers, consumers, and acquirers to create stricter security and transaction safeguards, more merchants are turning to the use of EMV.

Why EMV Technology is Important to United States Consumers
A study conducted by ACI Worldwide in 2010 determined that one out of every three United States consumers reports a form of credit card fraud in a five year period. With the instances of credit card fraud increasing, European merchants are only allowing the use of an EMV card. The United States, however, is limited on using this technology, even though the numbers of credit card fraud continue to grow.

Issuer Plan for EMV Technology in the United States
United States issuers are hesitant to use EMV technology because the cost to create the cards and convert POS and ATM technology is extensive and expensive-especially on a nationwide scale. In order to encourage the use of EMV in the United States, issuers like Visa and MasterCard are creating an EMV strategy:

• Offering business incentives: Visa and MasterCard plan to eliminate the requirement for the annual PCI data security if the merchant accepts over 75 percent of EMV transactions. Since this requirement drop will significantly lower costs for businesses and eliminate the time-consuming audits, businesses may benefit more from using EMV technology.

• Creating chip acceptance infrastructures: By 2013, Visa and MasterCard will require United States-based chip processors to support all mechanical chip transactions. This means that merchants are required to carry chip-processing capabilities, which includes dynamic authentication.

• Shifting liability: Credit card issuers and merchants typically take the hit for credit card fraud and chargeback costs. In October 2015, Visa and MasterCard plan on shifting this responsibility. When fraud does occur, if the merchant was not utilizing a contact chip terminal, he is responsible for all fraud charges-not the issuer.

As a merchant, you want to protect your business from chargeback liability and ensure your customers are protected while using your services. You need a merchant processing provider that offers EMV services that can provide your company with safe, secure EMV payment processing that not only protect your customers, but your business as well.

Building Your Business with Blogging – Part 2: The Why | casinogensnet.ga

Blogging: The “Why”

According to Andrew Sullivan’s article, “The Blogging Revolution,” the blog is a unique medium that opens up possibilities not previously seen. “Poised between media, blogs can be as nuanced and well-sourced as traditional journalism, but they have the immediacy of talk radio,” says Sullivan.

What does that mean for the small business owner? By their very nature, blogs do several important tasks for small businesses. They allow you to:

Influence public conversation about your company

There are few things more frustrating for a small business owner than to be blindsided by a crisis and not have a quick means to respond. In her article, “Does Your Company Belong in the Blogosphere?,” Katherine Heires says, “A corporate blog allows a company both to keep an ear to the ground to hear what’s being said about it and, if necessary, speak up with a correction.”

Even when your company isn’t in crisis, a blog makes it easy for journalists to find the latest, most accurate information about your company–and that’s important, because a Euro Magnet and Columbia University Survey of the Media in 2005 found that 51% of journalists view blogs regularly. In fact, according to marketing writer Brian Quinton, you might attract PR attention simply because you do have a business blog.

Enhance brand visibility and credibility

A blog establishes your expertise in your industry. For example, Jonathan Schwartz, president and COO of Sun Microsystems, used his blog (one of many Sun blogs) to establish himself as a cutting-edge leader on issues related to computer operating systems. According to blogging consultant John Lawlor (blogs4business.com), “Bloggers that excite and provide value to their readers get traffic.” Just as important, blogs give you a higher search engine ranking, because search engines love links and fresh, focused material.

Achieve customer intimacy

Customers want to see the human side of your company, and your blog provides that by giving your company a human voice. By using a blog, you can speak directly to consumers without having the information filtered, and possibly misinterpreted or slanted, by journalists or analysts. You can also allow your clients to respond with complaints, suggestions or a much-needed compliment.

Finally, remember that blogging is a low-cost platform. That’s more money that stays in your pocket!