Eligible U.S. small merchants who have obtained an upgraded EMV point of sale system, can request a one-time $100 reimbursement at www.americanexpress.com/fightfraud. Requests for reimbursement must be submitted by April 30, 2015.
- upgrade to a chip-enabled point of sale system (EMV)
- apply by April 30, 2015
- U.S. Small merchants with less than $3 million in annual American Express charge volume are eligible
- Online only businesses and government merchants are excluded.
- Limit one (1) $100 Reward Card per merchant. (If you have multiple locations with different merchant accounts and EIN, you can apply for each.)
We recommend only buying a terminal that supports both NFC and EMV. Why limit how customers can pay in the future? See also our EMV buyers guide.
The Verifone VX5520 is a reliable credit card terminal, compatible with any merchant account.
I rarely recommend desktop terminals, because they generally are not the best choice for my type of customers, which often are business to business, multi-location, or have a mix of card present and card not present. For single store retail shops and small businesses, this is a great value. Included:
- Built-in debit pin pad
- Built in printer
- EMV Contact and contactless
- NFC contactless
- Ethernet & Dial
Sale price while supplies last, $99 with any new merchant account.
Verifone has a version without Contactless/NFC, however, I don’t recommend it for two reasons. One, it limits the types of payment methods your customers can pay with, such as excluding Apple Pay. Two, to meet additional incentives from MasterCard for upgrading to EMV, merchants must support both contact and contactless.
EMV chip smart card.
Even the major news publications are publishing misinformation about EMV for retail. This article identifies some common false claims.
CLAIM: Equipment upgrade to EMV by October is mandatory. False. There’s no mandatory requirement for merchants to upgrade to EMV by the card associations. Acquirers and encouraging merchants to update, but it’s not a mandate.
CLAIM: Merchants are not liable for fraud if they support EMV. False. Beginning October 2015, either the issuer or merchant that is the cause of a contact chip
transaction not occurring will be financially liable for any resulting card present counterfeit
fraud losses. Lost and stolen card use is not applicable. The card brands also have differing exceptions and extra incentives to encourage adoption of EMV.
MasterCard requires hybrid EMV terminals (support of both contact and contactless interfaces) to qualify for all merchant incentives, which also include Account Data Compromise (ADC) and PCI audit relief.
Has your company suffered from card present losses due to counterfeit fraud? Do you have an older terminal that needs to be replaced? Then getting an EMV terminal obviously makes sense. Before choosing a new terminal, consult with an expert that will explore all causes of lost credit card disputes resulting in chargebacks. Ask how the solution will help with not only preventing losses from disputes, but how will it help with interchange management, the bulk of credit card processing fees reducing PCI compliance burden, and any other concerns.
What if your company hasn’t had any card present fraud problems? There’s still incentives to replace equipment. Consider consulting with an expert not associated with your merchant account for advice. Why? If the processor has limited options to offer, then you’ll only be advised on what their company sells, not what all the best choices are for your business.
Verifone MX915 signature capture terminal.
CenPOS now supports the Verifone MX915 signature capture terminal with a variety of point of sale solutions. While most new terminals in the market are EMV ready, CenPOS is EMV live with this Verifone multilane terminal.
To boost EMV adoption, MasterCard offers incentives beyond the EMV liability shift. To participate, merchants must deploy hybrid EMV terminals (support of both contact and contactless interfaces), and 75% of card present transactions must be on them .(reference MasterCard white paper http://www.mastercardadvisors.com/_assets/pdf/emv_us_aquirers.pdf)
The Verifone can be used standalone with a computer, high speed internet and the CenPOS virtual terminal, or integrated with POS systems, including open source ERP retail POS solutions like OpenBravo. Merchants desiring integrated connectors should contact 3D Merchant services; the connectors are generally not available in POS add-on marketplaces.
- Processor neutral
- Least cost routing and interchange optimization reduces merchant fees
- Reduce PCI Compliance burden
- One gateway for all sales channels
- Tokenization supported all sales channels, even retail and mobile
- Level III processing in retail – if you have commercial account customers, this will save a bundle in fees
- Scalable: Enterprise user and role management
- Cloud based reporting for centralized accounting
- Merchant defined risk & fraud management tools
The Equinox L5200 is a reliable multi-lane terminal, and at a lower price than comparable Verifone and Ingenico signature capture terminals.
Over the years, our clients have used all the top three brands with varying reliability. When buying a car, you can easily define good, better, best. That’s not so with multi-lane terminals.
Multi-Lane Differentiating Questions:
- Will the unit fit in the space I have?
- Do I have to get a stand for it?
- Is the screen durable enough for my volume?
- What is the cost of the extended warranty?
- How long has it been in the market? (New product lines may have reliability problems.) Or, what’s been the reliability experience with similar customers?
The L5200 has a sister product, the L5300, which is basically the same product, but with a bigger screen. The L5200 is ideal for automotive, truck, distributors, business to business, and any retail locations desiring a reliable signature capture terminal, a small footprint, and not requiring an permanent stand.
Multi-lane Software: What will drive the units?
The L5200 can be used standalone with any virtual terminal that supports multi-lane, and with POS applications. For example, they can be used with CenPOS, a universal payment gateway with virtual terminal. Contact 3D Merchant Services for CenPOS connectors for open source ERP retail software such as OpenBravo.
CenPOS L5200 supported features include:
- Contactless (NFC), including ApplePay, Google Wallet
- P2PE (Point to Point encryption)
- Pin debit
- EMV ready (EMV certification imminent)