The fact that the US is finally shifting to credit cards that are embedded with anti fraud computer chips does not mean that there will be a reduction in crimes related to theft from credit or debit cards. In fact, an increase in fraud is more likely to occur.
United States is currently the last developed country to phase out credit cards that use the traditional magnetic strip and use the EMV chip based technology.
Continue reading How Fraud Is Likely to Increase Post Rollout of EMV Security Chips in Credit Cards
MerchantService.com has been in business since 1995 and has provided merchants with effective systems for optimized credit card and business management solutions.
These services include the implementation of strategies that have proven to accelerate the overall flow of cash, eventually resulting in greater efficiency with high levels of cost effectiveness.
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A large number of problems, issues, and conspiracies revolving around credit card processing led to standardizing all credit card transactions according to a new format, EMV.
Named after its introducers, EuroPay, MasterCard, and Visa, the credit card processing technologies around the world will be taken over by EMV latest by October 2015. All merchants, merchant account holders, and merchant account services will be subjected to new EMV standards and most importantly, it will indicate a shift from magnetic stripe cards to chip based cards.
Continue reading Credit Card Processing: From Magnetic Stripes to EMV