What are RMS user options for EMV terminals? Here’s four options for merchants to choose from while waiting for RMS integrated EMV terminal; as of August 24, 2015, there are no gateways driving US EMV certified terminals yet.
Which is best EMV terminal for RMS users to accept chip cards today?
Which option would you choose?
- Choose working virtual terminal and US EMV Verifone MX915 certified terminal with signature capture, hoping the gateway gets integrated into RMS later? Or use it short term, and switch later if another option is integrated first?
- Choose a payment gateway that’s working on EMV certification and RMS integration with unknown ready date? hopefully will add 3-D Secure?
- Wait and see? The challenge is time. The closer it gets to Ocober 1, the harder it may be to procure terminals (shortages have been common all year), implement & train etc. Additionally, merchants may have stability challenges with gateways that are integrating terminals for the first time.
- Buy a countertop terminal with EMV certified pinpad, and use non-integrated? The units certified will vary by payment processor. This is probably the last choice, because it can never be integrated later.
Today, card issuers bear the fraud loss if they give merchants authorization to accept the payment for a counterfeit card at the point of sale. Merchants never know about this fraud because the processor/acquirer automatically manages the response. Starting October 1, this process no longer applies. If merchant doesn’t support EMV, but the card issuer does, the acquirer is liable and can immediately chargeback the merchant’s bank account via ACH. What’s the financial risk? Nobody knows, but an estimated 63% of card present fraud losses were covered by issuers in 2012.
UPDATE 2016: Contact us for Microsoft Dynamics RMS EMV certified solutions today!