If you have one of the latest PayAnywhere Storefront or PayAnywhere Mobile devices, you’ll be happy to know that they are both EMV-capable. You are only a few steps away from accepting EMV chip cards and giving your customers extra peace of mind.
So what’s the difference between EMV-capable and EMV-ready? It may seem like “industry jargon,” but the difference between the two is being able to process or not process EMV cards. Here is a look at both:
- EMV-capable: A Point of Sale system that needs to be upgraded in order to process an EMV transaction via an EMV application. EMV-capable terminals will need a software download and possible key injection in order to process an EMV transaction.
- EMV-ready: A terminal that can process an EMV transaction if a chip card is inserted.
We will send all PayAnywhere merchants a notification when their devices will be EMV ready.
The October 1, 2015, date is not a hard, drop dead mandate for full EMV integration. In fact, other countries that have migrated to the EMV system have taken over 10 years to get fully compliant. The highly publicized date was to mark a liability shift for counterfeit and lost/stolen card transactions. So, if you’ve never had an issue with a counterfeit or lost/stolen card, this shouldn’t be an issue while you wait for the EMV update to your terminal or card reader.
If you have any questions, please call us at 877-387-5640 or email email@example.com.