Magnetic swiping technology on their credit card machines

As the journey for small businesses to transfer from magnetic swiping technology on their credit card machines continues to evolve, we can learn one thing.  The system is getting better. Last year’s back orders of EMV terminals is not affecting us right now.  The software techs to program the machines have worked out most of the bugs and your machines can be programmed in a matter of hours now instead of days, and there is a program in place for business now, who have not changed from swipe to EMV, to forgo any fraudulent charges on your account under the magic $25-dollar line.  That is all good news for the businesses who have not switched to EMV technology yet.

But the question still begs, why have you not switched?  You have not found the right program, you are comfortable with the system the way it is?  You like gambling with your businesses money?  As a former owner of a bicycle shop in Arizona, I would take charges for bicycles that cost thousands of dollars.  If I was using old technology, and I took a fraudulent card and was held liable for that sale, it would take me months to recover from that loss.  Forget about if it happened to me two or three times in a month.  That kind of loss would have hurt our business.   So why are you playing roulette with   your business and credit card transactions?

The main stumbling block right now is time of transactions.  High volume businesses have long complained that they do not want to use the chip EMV technology because the time to make an approval is 3 – 4 times longer than the magnetic strip swipe.  This will be a problem of the past soon.  Both major credit card providers Mastercard and Visa have been working on updates to speed up the transaction response time.   By the middle of December, these updates will be running and transaction times should be cut in at least half if not more.

Now is the time for your small business to make the change to EMV.  You can expect the process to be much smoother for you, and you will be protecting your business from chargebacks of fraudulent card usage by switching to the dip.