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Three Steps to Accepting EMV chip cards


Transcript: Three steps to accepting EMV chip cards

Business Insight Series

Wells Fargo Works for Small BusinessSM

Three benefits to accepting EMV chip cards

The payment world is quickly evolving. By staying on top of changes, you can help prepare your business for the future.

One of the most significant changes in the U.S. is the switch to EMV chip cards – cards with an embedded microchip to help protect against credit card fraud.

Card issuers are now sending millions of EMV chip cards to consumers, and many merchants have already started accepting these cards. As EMV chip cards become more common and frequently used by customers, consider the benefits of accepting them.

First, you can protect customer data. EMV chip cards are more difficult to counterfeit than magnetic stripe cards because the information on a chip changes with every transaction.

Second, you can reduce your liability. Starting October 1, 2015, merchants that don’t use EMV chip card-enabled equipment to accept EMV chip card payments may be financially responsible for fraud that could have been prevented with EMV.

Finally, you can accept even more types of payments. Be prepared for today’s payments, including digital wallet, mobile, and contactless payments.

Now that you’ve seen how EMV can connect your business to the future of payments and meet your customers’ needs, let’s see how it works at the point of sale.

An EMV chip card looks just like any other credit or debit card, with the addition of the microchip. Instead of swiping the card, the customer inserts the EMV chip card into the payment terminal, or taps for contactless EMV payment.

Next, the terminal will prompt the customer for a signature or PIN. Be sure customers keep their cards in the terminal until the transaction is complete. When a transaction is complete, the terminal will prompt the customer to remove the card. It’s as simple as that.

Are you ready for the switch to the new chip card that can better protect data, reduce your liability, and expand your payment options? Wells Fargo Merchant Services can help you get ready to accept EMV chip card payments. For more information, contact your Wells Fargo representative, or visit

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Wells Fargo Works for Small Business