The EMV October 1st deadline may have passed, but many small business have not yet upgraded their terminals and, more alarming, many are not aware of the increased fraud liability.
Rightly or wrongly, many merchants feel that their bank/processor has not communicated with them regarding this issue, and are feeling overwhelmed, according to a recent article by Paymenteye.com.
What are merchants saying?
Recently, Congress heard from gift shop owner Keith Lipert, owner of The Keith Lipert Gallery, a single-location, three-employee store who stated "The EMV transition is overwhelming and expensive for an independent, small retailer, EMV is all new to me, and banks and the networks are not contacting small businesses to help the transition in any way". Lipert, went on to say; "No one from my bank, processor or existing supplier even contacted me about the need to add a new EMV device, let alone a deadline by which to do so."
Proactively engaging your merchants throughout this process is key to retaining their business
Sysnets scalable, on-demand dedicated EMV Conversion Solutions team enables you to engage your merchants when and how you choose. Our services for EMV Conversion include:
Outbound merchant contact to encourage terminal upgrades.
Inbound contact support services for EMV related questions.
Appointment setting for field-based sales agents to discuss EMV compliance with your merchants.
ISO outreach campaign support to ensure your ISO-channel merchants become EMV compliant.
