Chip cards are becoming a more common sight at retail locations consumers frequent every day including grocery and drug stores. Results from a consumer survey conducted by Vantiv and Socratic Technology revealed that three out of four consumers believe EMV cards are more secure, and one out of two believe they are more convenient than traditional payment cards.
The survey of 500 consumers also indicated that SMB adoption of EMV is trailing, even as consumer use of the cards is growing. Sixty percent of SMBs were expecting to be EMV enabled by the end of 2015, but less than a third are ready in July, 2016. Furthermore, only 38 percent of SMBs said they were knowledgeable about card data security.
Large or small, it’s important for all businesses to be informed about card data security and protecting the point of sale from fraud. To help you get up to speed, we’ve pulled together Vantiv’s most recent content regarding security for SMB.
Begin by reviewing some security statistics before delving into an explanation of the available security solution options. In addition to an explanation of EMV chip card acceptance, you will get an overview of Vantiv’s bundled security solution for SMB, OmniShield Assure. Next, check out three things to know about the new EMV chip cards to learn more about chip cards, chip card acceptance, and EMV.
After getting a better understanding about EMV from these articles, you will likely come to the conclusion that it’s time to upgrade to an EMV-enabled device that enables more robust card data security and fraud prevention. Learn more about making the switch for your business by reading this piece.
Finally, check out Vantage Point’s Safer Payments featuring extensive content covering card data security and fraud prevention for SMB.