Your EMV-enabled device will:
- Communicate with the chip embedded inside the customer's smart card to determine whether or not the card is authentic.
- Generally, the terminal will prompt the customer to sign or enter a PIN to validate their identity. This process enhances the authentication of both the card and cardholder, effectively reducing the possibility that the business will accept a counterfeit card or be held liable for a fraud-related chargeback.
- Customers will still have the option to swipe their cards – magstripes, encryption and EMV technology will co-exist for a period of time.
- Customers will have the option of presenting either a magstripe card or EMV card and the same device will be able to process either.
The following images demonstrate how the chip-enabled card, including a magstripe, can be processed by different devices:
Magnetic Stripe - Supported EMV devices will also enable the acceptance and processing of magstripe cards in addition to those utilizing a smart chip.
Chip and Signature - Instead of providing a PIN to complete a purchase, this process just requires a signature.
Chip and PIN - The card is inserted into the terminal device which keeps the card until a PIN number is provided.
Chip Only - If a transaction is under specific floor limit, neither PIN nor signature may be required.
Contactless - NFC enabled cards can tap the card in front of an NFC enabled terminal device (works for mobile wallets like Apple Pay too) and then provide either a PIN or a Signature.
Questions?
We hope you find this information useful. If you have any questions or suggestions please send an e-mail to sales@retailedge.com.