EMV Chip Card Technology Gets Backing From President Obama

On any given day, President Obama can catch a lot of dissension from every direction. However, his recent views and backing of EMV technology have people praising him. While EMV technology is coming, his support can perhaps help those who are not sure about the technology embrace it.

EMV technology is better known as “chip and PIN” technology, and it is coming in 2015. It is replacing the current “signature” method of finalizing a plastic card transaction. One big boost that may come for the industry is a recent bill signing that Obama participated in, which sought the technology to be used for government benefit cards. This includes EBT and other welfare subsidy cards. This can help keep those cards safe, as well as consumers’ safe, since MasterCard and Visa have already hopped on board the EMV bandwagon.

While this is great news, merchants need to be ready for the incoming of EMV cards. 2015 is not far off, and technology advances are already here. So, what are you waiting for? You need to make a beeline to your merchant account processor to set your merchant account up. However, what do you do if your merchant account is not prepared? Well, waiting around is an option, but that could cost your business. A better option is checking around with other merchant account processors, such as eMerchantBroker.com.

We at eMerchantBroker.com know that EMV technology is coming fast and hard, and we will not let any of our merchants suffer from not being prepared. If all goes well, nearly all cardholders will get their new EMV cards at once. If you are not prepared, your business would suffer greatly. It may be hard to change your merchant account provider, especially if they have been nothing but helpful to you. However, this is business, and they know it is not personal. Do not be afraid to switch, especially since your business relies on these changes.

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