As more and more merchants start using their EMV-capable credit card terminals, there have been some issues with accepting the cards without them being rejected - not for lack of funds, but for lack of knowledge on how exactly to complete an EMV transaction. We at North American Bancard (NAB) have put together this quick “how to” on successfully completing EMV card transactions.
First a few vocabulary words to learn before moving forward:
- EMV: Abbreviation for Europay, MasterCard and Visa, the three groups who created the initial specifications for the system.
- Chip: The secure microprocessor chip found in an EMV payment card.
- Dip: Inserting a chipped card into an EMV terminal.
Now that you know the terms let’s take a look at how you can complete an EMV transaction each and every time.
- Have your customer dip their card.
- Be sure to tell your customers to leave their cards in the terminal until the transaction is complete. This allows the chip to verify the terminal, and the terminal can also verify the card. If the card is removed before the process is complete, the transaction more than likely will be declined.
- Since this is such a new process for everyone involved, make sure the employees running your checkout remind your customers not to forget their card — that way you won’t have to run them down to return their card.
This whole process will take longer than the traditional credit card swipe, but letting your customers know that their transaction is protected by stronger security measures than the standard swipe, will soften the blow for the need of additional time.
For an added level of security, there are four ways cardholders are validated. The four are:
- Online PIN — where the PIN is encrypted and verified online by the card issuer.
- Offline PIN— where the PIN is verified offline by the EMV card.
- Signature — where the cardholder signature on the receipt is compared to the signature on the back of the card.
- Nothing — Used for low-value transactions like vending machines.
The issuing bank determines the method used when the card is originally programmed.
Hopefully, these easy steps help you make every EMV transaction a smooth one. For any other help with your credit card processing needs, please contact NAB at 877-840-1952 or visit our website today!
