Posted on 04/07/2015 7:47:58 AM PDT by rktman
In order to provide additional and enhanced credit card protection for consumers, credit card companies will soon implement new rules that will change the way credit and debit card transactions will be processed. All major credit card companies are issuing new EMV (Europay, Mastercard and Visa) cards or “smart cards” that contain embedded microchips that provide transaction security features and other capabilities not possible with current, traditional, magnetic stripe cards. (Note: Smart cards are not new. They have been around a long time and most of the world has already migrated to EMV technology. The United States is one of the last countries to do so.)
(Excerpt) Read more at nssfblog.com ...
Use cash.
This applies to all retailers.
AMEX just changed out my card.
I don’t this this makes a whole lot of difference to firearm dealers in particular, but to retailers in general. And it should not make a bean’s worth of difference to the customers. It means that if the vendors don’t use the right equipment to do the processing, THEY are on the hook.
What does this mean for gun buyers? As the kids say, “Meh.”
The new cards are 3/4” thick and weigh 4 pounds.
With batteries.
If you operate a retail business in the US, and accept bank credit cards (MasterCard, Visa, Amex, and maybe Discover), it's relevant to you.
In October, 2015, you must use a credit-card terminal that reads the embedded chip, or you assume responsibility for any fraudulent use.
Exceptions include: unattended fuel dispenser (they have until 2017) and ATMs (not sure of the end date).
If the card does not have a chip on it, they can still swipe the magnetic stripe. But, banks are expected to send their cardholders chipped cards before the end of this year.
So if you scrape away tbe parts that apply to every retailer in the country, this come down to a push to buy the equipment that kicks some of the money back to the NSSF.
WTH? They’re not solar powered?
Nope, no sunlight in the wallet.
Good news for the bad guys using scanners. Eva body will be totin’ minature broadcast stations.
No, a card with an EMV chip isn't necessarily a contactless card with an NFC chip.
Slower than a swipe. Expect longer lines at POS
Which is why I carry mine wrapped in foil...
Thanks for the info.
Bump for reference
I use PAI in my gun shop not because it kicks any money back to any group, but because it is less expensive and they are gun friendly.
Intuit and Square pretty much told all retailers of guns and ammunition to take a hike back in 2013. They didn’t want our business. PAI stepped up and took care of us, and did it well.
The new chipped cards are much easier to use in restaurants in the UK.
In the past a non-chipped US credit card caused a stir and a hunt for the old swipe a card or manual entry terminal...:^)
Now the equipment knows that US owners don’t have a PIN number and the hand-held wireless terminal the waiters use will automatically print out a slip to sign as well as a receipt. UK users simply enter a PIN and get a receipt.
Yeah, I keep my card where the sun don't shine, too. ;o)
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