WHAT IS EMV?
EMV stands for EUROPAY, MASTERCARD and VISA, a global standard for inter-operation of integrated cards (chip cards) and all Point of Sale (POS) and Automated Teller Machines (ATMs) for authenticating credit and debit card transactions.
Commonly used globally in place of magnetic strip, EMV chip technology drastically reduces card fraud. American Express, Discover, MasterCard and Visa have all announced their plans for supporting EMV chip-based payments.
WHEN WILL EMV HAPPEN?
It’s happening right now! Today, if you experience credit card fraud on your ATM, the credit card companies pick up the liability. But, by 2016, when someone commits fraud on your ATM, THE LIABILITY “SHIFTS” AND THE ATM OWNER WILL PAY FOR ALL FRAUD!
HOW DO WE AVOID BECOMING A FRAUD VICTIM?
All ATMs must be EMV Compliant. Many older machines are either not compatible for the upgrade, or will be cost prohibitive to upgrade to EMV.
WHAT ARE MY OPTIONS?
If your existing machine is either incompatible or too cost prohibitive to upgrade, we offer three options.
- FULL PLACEMENT: James River will deliver, install and program a brand new machine free of charge. We do all cash loading and maintain your machine. This turnkey solution provides the benefits of having an ATM without the responsibility and cost of managing it.
- PARTIAL PLACEMENT: James River will deliver, install and program a brand new machine free of charge. You do the cash loading while we maintain the machine. This solution offers the merchant a greater portion of the surcharge revenue while not having responsibility to maintain the machine.
- ATM PURCHASE: we offer great deals on select new machines.
If your existing machine can be upgraded, we offer two options.
- TAKE OVER: You retain ownership of the ATM while James River takes over operational control. This creates a turnkey solution while still using your machine and therefor providing better surcharge revenue.
- PROCESSING ONLY: It’s business as usual but, with a better processing agreement through James River, you can realize higher revenues.
See your local James River ATM representative about the benefits of our programs. Call 1-800-466-4403 to schedule an appointment to have your machine evaluated.