Your EMV guide, resources for small businesses
New research from Vantiv and Socratic Technologies suggests that 76% of consumers believe EMV cards are more secure, and nearly half (46%) believe they are more convenient, when compared to traditional credit and debit cards. The findings come from a survey of 500 consumers which also indicated that use of chip cards is popular in everyday retail locations such as grocery and pharmacy/drug stores, where consumers cited most common use of EMV cards.
And while consumer knowledge and use of the cards is growing, small businesses were trailing when Vantiv surveyed them in July of last year. While 60% were expecting to be ready by the end of 2015, less than a third were prepared in July. In that survey, Vantiv also found that only 38% of small businesses said they were knowledgeable about card data security.
Understanding card data security and point-of-sale fraud protection is important for even the smallest of businesses. This curated collection of Vantiv's most recent content on security topics for small businesses is a good place to start.
Start with a short piece covering some of the statistics that should be keeping you up at night in the piece, Payment security probably doesn't keep you up nights—perhaps it should.
Continue with a more detailed look at the range of security solutions available to businesses, Top 5 securities for merchant payment services, which includes a discussion of EMV and chip card acceptance, as well as a look at OmniShield Assure—a bundle of in-store security solutions designed specifically for small businesses.
From there, go deeper into chip cards, chip card acceptance and EMV with Three things to know about the new EMV chip cards.
Once you've considered the ins-and-outs, ups-and-downs and have a better understanding of the role of chip cards and chip card acceptance for your business, you're likely to come to a conclusion. It's time to switch out that old card swiper for a new one, one that can help you take advantage of more card data security and fraud prevention for your small business. Read, New Season. New Payments. Time to Get a New Credit Card Swiper.
And for more on the world of card data security and fraud prevention designed to help your small business, read Vantage Point's Safer Payments content.