Payment processing has changed dramatically in the past few years, creating opportunities for more secure and convenient payment alternatives for customers and merchants.
What is EMV?
“EMV – which stands for Europay, MasterCard and Visa – is a global standard for credit cards that uses computer chips to authenticate (and secure) chip-card transactions (Squarespace.com).” EMV chip cards are quickly evolving into the payment standard for credit card processing in the United States. EMV technology offers increased security for both merchant and customer over traditional magnetic strip cards. Built in chip encryption and dynamic chip data makes it incredibly difficult for data to be stolen or skimmed.
What is NFC?
NFC processing stands for “Near Field Communication.” This type of payment is a contactless transaction that takes place when a smartphone and other devices are put within close proximity to the credit card reader. The transaction is quick and secure, which is what has made it increasingly desirable and popular.
How does this apply to me?
Using the LubeSoft Merchant Partners integrated credit card solution provides you the most up-to-date payment processing, increases your liability protection, and offers your customers the latest in secure credit card process technology.