The Significance Of EMV Credit Card Reader For Micro’s Systems

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The Significance Of EMV Credit Card Reader For
Micros Systems
EMV is a fraud reduction technology that can help
protect issuers, merchants, and consumers from
damages caused by the use of counterfeit and lost
or stolen point-of-sale payment cards.
Currently, the cardholder's information is stored
on a magnetic stripe located on the back of the
card. The EMV terminal (chip reader) is one of
the newly added features in the card payment
industry. Traditional credit cards, with a
magnetic stripe on the back, have been slowly
modified over time and have recently been
converted into the small chips that are now
embedded in most cards. The microchip provides
enhanced security for cardholder
information. Understanding EMV EMV stands for
Europay, MasterCard and Visa. This is the
standard for integrated circuit cards,
point-of-sale (POS) terminals and automated
teller machines (ATMs) in the credit card
industry. EMV began as a co-developed global
standard to facilitate interoperability between
computer smart cards and terminals used by major
financial services companies. A consortium of
financial firms currently operates the standard
and is known as EMV Co.
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Point-of-sale terminals that meet EMV standards
often require cardholders to use a personal
identification number or PIN instead of simply
providing a signature, which adds an extra layer
of security. The EMV card also contains an
integrated circuit chip, which encodes each
transaction differently. If a criminal intercepts
data from a smart card transaction, the data
cannot be reused to make another purchase. The
EMV standard covers the physical aspects of cards
and devices, as well as data processing
capabilities and technology. This applies to
swipe cards (called contact cards) and
contactless cards (contactless cards), as well as
new e-commerce standards and online transactions
being developed. Credit and debit cards
traditionally used a magnetic stripe to manage
cardholder data. After that, the cardholder will
sign the confirmation when making the purchase.
Because signatures can be forged, this system
does not provide a high level of security and
the magnetic stripe is relatively easy to hack,
exposing the cardholder's personal information
to criminals. Why do MICROS Systems Need EMV
Solutions? The majority of Oracle's MICROS POS
systems have not yet been modified to be
IC-compliant and are still only capable of
reading magnetic tape. Lack of upgraded
technology puts merchants at risk of being fined
by card companies and losing all chargebacks for
not meeting up-to-date payment card standards.
With a nationwide shortage of microchips, we
still have hundreds of MICROS POS-compatible EMV
terminals in stock and ready for immediate
deployment. For businesses, an Emv Solution For
Micros Symphony can prove to be quite
significant. This is important due to the
increasing number of credit card frauds. As of
October 2015, if a customer uses a fraudulent
chip card and the merchant does not have an EMV
card reader, that merchant may be liable for
fraud. This is called "transfer of
responsibility". The impact of merchant
liability has resulted in steady growth in chip
card transactions. For businesses using Square
Stand and Reader, in March 2015 chip card
transactions were only 17 of total
transactions. And that was seven months before
the last liability change was enacted. In just
five months, that number has grown to 36. In
July 2016, 71 of all card transactions were
made with chip cards. The transition to an EMV
card reader was quick, and swiping your card is
now rarer than inserting a chip. What We Can
Provide? Our EMV terminal can accept all the
latest EMV and contactless payment options. Since
COVID-19 became a major concern, many
restaurants are looking for ways to reassure
their customers and increase restaurant
occupancy through safer transactions. We can
provide you with solutions with our help, your
MICROS POS system will be able to support EMV
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We Provide Free technical support for your
Micros POS machine
chip readers, allowing you to transact more
freely. We provide Emv Credit Card Reader For
Micros 3700 and Micros Symphony.
Our Micro Integrated Payments Shift4 technology
recently acquired MICROS Retail Systems Inc.,
one of the nation's leading MICROS POS resellers.
All new merchants joining will receive free 24/7
support from MICROS Retail systems. There are
approximately one hundred MICROS representatives
available to handle all technical and software
services for our esteemed customers.