PCI Requirements and EMV/Smart Cards Update

We want to provide you an update to the Smart Card / EMV requirements that will be implemented October, 2015.

You may remember from our notice last December that the Payment Card Industry has mandated a shift to smart card technologies in an effort to better protect cardholder information. Smart cards, also known as “chip and pin” or EMV, rely on technology based on an imbedded microchip in credit and debit cards. These cards will require a reader that will retrieve the consumer’s payment information from the chip instead of the traditional magnetic stripe.

Historically, the card brands (Visa®, MasterCard®, American Express®, Discover®, et al) assumed liability for fraudulent transactions. Beginning with the implementation of the new requirements, liability for fraudulent cards will shift to those merchants who do not upgrade their hardware to read smart cards. Only those merchants who install the Smart Card technology will be shielded from this liability and the burden to prove the validity of each transaction.

We have identified a couple of different EMV card reader options that are currently being tested. The devices are “smart” and have programming built in. This means we have to work with the manufacturers to coordinate communication between the device and our software. Until we know this is working properly, we won’t identify the brand or model of the test units. We are still on target to have our internal development and testing done by the end of the first quarter.

Each point of sale station will have a consumer facing reader which will allow the cardholder to retain possession of their card, thereby increasing security for you and the shopper. While there is no charge for the software enhancements, you will want to budget around $250 to $300 per station for the hardware.

Our partnership with National Processing Company has been a valuable asset in evaluating and making this change. Their levelheaded approach contrasts sharply to those processors who use “the sky is falling” rhetoric in an attempt to scare merchants into rash and reckless decisions. Additionally, this relationship enables us to provide you with one stop support if you ever encounter a processing related issue.

If you have any questions or unique situations, please contact us at support@bsmgr.com or merchantservices@bsmgr.com.

We are continually thankful for the partnership we have with you, and we trust the Lord will bless you and your ministry in the days to come.

Your BSMGR Support Team
support@bsmgr.com | (800) 997-6724 (option 2)

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