By Christine Kern, contributing writer
As of October 1, liability for fraudulent payment card transactions shifts from card issuers to acquirers or merchants, with the least EMV-compliant party responsible for covering the amount of the transaction. And while many SMB merchants are researching what the shift would entail, many are still concerned about the costs involved.
Here are five ways to help SMB customers transcend the question of cost of EMV solutions.
- Budgeting. According to Beatta McInerney, business development manager, payments, for ScanSource, “The biggest barrier of paying for an EMV-enabled system is budgeting. Speaking with merchants early will help them set aside funds in their budget cycles to pay for the necessary upgrades. The availability of Hardware-as-a-Service (HaaS) programs also allow for creative financing for many merchants.”
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