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Chip-Enabled Cards (EMV)

The information on this page is for merchants. If you’re a consumer looking for information about EMV, visit

New payment methods are consistently being developed to fight fraud. As a small business merchant, you may be wondering what these new methods are and how you can continue to accept credit card payments in a secure and cost effective way.

Today’s smart consumer is as likely to tap and go as to swipe and sign – and they expect the most advanced options when it comes to protecting their cardholder data.

Some Facts You Need to Know About Chip-Enabled Cards:

  • Most banks are in the process of re-issuing all cards
  • Chip cards increase security and minimize fraud for both you and your customers
  • Most of your customers will have these cards by October 2015
  • You can continue to accept cards via swipe

To understand what EMV is all about, read our white paper EMV: The New Way to Pay.

Upcoming Liability Shifts

Visa®, MasterCard®, Discover® and American Express® have announced upcoming liability shifts for credit card transactions based on this standard. Any merchants or issuers who do not support chip technology may be liable for the cost of counterfeit and potentially lost and stolen card fraud. The term “liability shift” refers to the change in who bears the chargeback-related cost of fraudulent transactions. The timeframes for compliance are:

  • Most merchants (petroleum pay–at-pump transactions are excluded at this time) need to support EMV by October 2015.
  • Petroleum pay-at-pump merchants need to support EMV by October 2017.

Accepting Chip-Enabled Cards

There are two key reasons that it’s important to consider adopting EMV chip technology now. The first is, as a merchant, you never want to turn down a sale. Currently, chip cards will still have the magnetic stripe and will be usable in older terminals. However, soon you may find that you are losing sales without an EMV-enabled terminal.

Secondly, this new solution can help to reduce the incidence of fraud by validating the technology on the card and rejecting counterfeit cards. EMV is a proven technology – chip cards have been used in Europe and Canada for years and have been shown to dramatically reduce fraud. In fact, the major payment brands (including MasterCard, Visa, Discover and American Express) are planning a ‘liability shift’ where merchants without EMV-enabled terminals will be responsible for point-of-sale fraud losses that could have been prevented with chip technology accepting systems.

Start Accepting Chip Cards

Understanding EMV

EMV stands for Europay, MasterCard® and Visa®, the governing body for this technology globally. EMV has been used in Europe since 1992, and steps are now being taken to make it the standard payment type in the U.S. due to the significant reductions in card-present counterfeit fraud it produces.

EMV, also known as “Chip and PIN" payments, starts with the consumer being issued a card into which a smart-chip has been embedded. At the time of the transaction, the card is inserted into an EMV-enabled payment terminal, which uses chip technology to verify the validity of the payment card presented before the transaction is completed. With transactions facilitated using chip technology, the customer may have to enter a PIN rather than sign the payment receipt, depending on the type of payment card they are using. Other than the insertion of the chip card, the sale takes place as normal – no special action is needed from the merchant. It’s important to note that in a chip card transaction, the payment card is not given to the merchant. It stays with the customer, providing an additional layer of security.

Becoming Compliant

Small businesses are always looking for cost-effective ways to adopt new technology, and we are here to help. With our Future Proof Payment Terminal, you can move all of your payment transactions to a single device. This EMV-enabled terminal easily accepts swipe, EMV, contactless and manual payments. With our all-in-one solution, you’ll be able to speed up credit card processing and accept all credit cards quickly and easily, and avoid fraud that is costly to your customers – a hassle for you and a risk for your business.

How Consumers Use Chip Cards with Chase Retail Checkout

As U.S. merchants begin transitioning to chip card readers, consumers will notice the payment
process works a little differently. Not all devices will look the same, but the steps are nearly identical.
Here's how it works:

Rather than swiping your credit card, you will insert it into the front of the card reader with the chip facing up.
Keep it in the card reader, and follow the prompts on the screen until your transaction is complete.
Remove the card. If a signature is required, just sign the receipt and you are done.

Remember, the chip card will still have the magnetic stripe for use at traditional machines too.