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Tips for EMV Security

Charter Capital (1)

What are EMV Chips?

EMV chips, also known as Europay, Mastercard and Visa chips, make it more challenging for fraudsters to create counterfeit credit cards. The cards enhanced with EMV feature an embedded small, metallic square. That tiny square is actually a computer chip.

Credit cards equipped with EMV computer chips protect data by creating a unique transaction code with each purchase, unlike the magnetic strips of yesteryear. In the past, if a criminal gained access to a magnetic card strip, he gained access to all of the information necessary to make future purchases with that credit card. Modern chip-enhanced credit cards eliminate the ability of hackers to recreate the chip information from one point of sale.

The new generation credit cards aren’t swiped; they are inserted into a card reader that collects data from the chip. The machine reads the data, and then the card’s financial institution creates a one-time transaction code for the purchase. These transactions typically take a little longer than the magnetic stripe swipe, but those extra seconds make for a safer purchase.

How long it takes between the credit card dip and a completed transaction largely depends on the equipment being used at the point of sale. Most U.S. retailers aren’t yet using EMV technology in their businesses. One survey theorized that only about half of U.S. businesses will have migrated to EMV card readers by the end of 2016. Because not all merchants have adopted the latest technology, most credit cards still have the magnetic stripe on the back, so users can make purchases using their credit cards just about anywhere!

Vision Payment Solutions know that accepting credit cards can be one of the easiest ways to increase profits. However, the fees required to do so may seem daunting or confusing. Add to that the merchant responsibility for protecting buyers’ personal credit card information, and accepting credit cards can seem like a costly risk. VPS helps its merchant partners find payment processes that work best for their businesses. Whether its email receipts, upgrading payment systems to add EMV options, or providing wireless payment options via smartphone, VPS offers low cost credit card processing and the latest technology to help protect consumers. Contact Vision Payment Services today to set up your payment processing at a guaranteed low rate!

What Kind of Business Should Invest in Merchant Processing?

There’s no limit to what kind of success your business can achieve if you have the right tools. Whether you’re looking to expand your business, increase your revenue, or simply solidify your current business model, you’ll want today’s most advanced financial solutions on your side.
If you’re interested in investing in a merchant processing account, take a look below to see if your business can benefit from the services provided by a merchant account provider…

Are You Looking to Expand Your Business?

Accepting credit cards is one of the easiest, most universal ways to help your business expand. A merchant account can help you manage and track your payments for simpler transactions without the hassle of an unreliable payment gateway. Vision Payments also offers our clients up to $500,000 in merchant capital funding, with high approval rates, no fixed payment amount, and no personal collateral needed. With working capital in your pocket, you’ll be able to upgrade your equipment, purchase advertising space, and open new locations.

Are You a Small Business?

Small businesses occupy a very special corner of the market. If you want your small business to become a viable competitor within your market, then it’s time to let a merchant account take care of your payment processing so you can focus on other areas of your business’ growth. A low-credit credit card processing rate can help you manage costs while giving your business the security that comes with a dependable method of payment.

Are You a Traveling Vendor?

If your business is rooted in selling at tradeshows and markets, you’ll want an easy-to-manage payment processor that goes wherever you go. Today’s merchant accounts come with a wide range of solutions (even apps) that help vendors get a customizable view of their account whenever and wherever they need it.
Are You a Business Looking for Additional Convenience/Security?
You could limit yourself to only accepting cash or checks, or using payment gateways that are known for their unpredictability and stringent terms of use, but odds are they will only lead to future financial struggles for your company. Your best bet is a merchant account with reliable customer service and flexibles solutions that work with your company, not against it. If you want your company to thrive in our increasingly technologically-driven world, you’ll also want an account with additional mobile support.

Do You Own Any Kind of Business?

If you own a business, whether it’s a small passion project or a rapidly expanding business venture, a merchant account is well worth the investment. Business owners know that all too well that running a business requires juggling more than one ball at a time. With a dependable payment processor in your corner, you can focus your energies on making your company more efficient and, ultimately, more successful.
To find out more about Vision Payments’ merchant accounts, virtual terminals, equipment leasing, or merchant capital funding, call VPS at (877) 674-2286.