To my friends:
After speaking to so many Merchants, Resellers, ISO's. and Agents. I thought to write a brief article about EMV issues. There is a new phenomena I will call "default land." This is the mystical place where the things you do not understand about EMV and the related changes fall into this bucket of someone else's responsibility. What you don't know will hurt you.
I am biased to the First Data world as well but some of the core concepts will be applicable to other Payment Processors.
There are many differing kinds of vendors. In the end, these vendors either resell stand-alone devices, or usually sell integrated POS systems in a bundle of some sort. At the end of the day, you need to be compliant with the EMV mandates in terms of equipment that the merchant uses, as well as the practices that are new as a result of EMV formatting. I will address the topics that might appear in the checklist.
There will be a number of additional fields that will be required for certification due to the token number that will be sent back along with the transactional information. No more padded cc numbers. Your clients will need to redesign their receipts to handle all of these token-related fields. Your token id number should have the same last 4-5 digits as the original card but look like nothing like standard card numbers. More fields will be required.
Current Terminal type and number
The Replacement Process where a one-to-one relationships occurs for Stand-Alone terminals will be matched by replacement EMV terminals that read the EMV chip and pin.
This is an ideal time to sell-up and add possible functionality to simple stand-alone terminals. A breakout of each terminal by device number and specific functions would be helpful for large accounts that have an agreement for swapping our devices.
There are devices that will support Ethernet and wireless that you replace that may give the merchant additional functionality when they get this device.
Current POS systems
This is complex. Most vendors of integrated POS systems have been working on supporting the new EMV standard as it is captured using a number of devices:ApplePay NFC data, EMV readers stand-alone, EMV all-in-one devices, and Portable devices.
This is a great opportunity to sell-up but it requires in some cases to gather information, like installation date, machine type, OS level, drivers used, and current card readers. It may be that the current Integrated POS systems go back 25 years using very simple and direct coding styles that propose a security risk. This is an opportunity to resell large bundles of Hardware, Software, and Support to clients that want to use this time as a meaningful upgradeto their legacy systems.
There is going to a be lot of capital flowing into these aforementioned areas. Any agent or ISO or vendor who inventories the target market will be better prepared to handle the 2015 crush that will be happening in the next two months.
Lastly, training for the new systems. Unlike before, there is going to be a lot of new orientation time to get people familiar with the replacement equipment and the new functionality.
"Default land" will disappear as the industry embraces the reality that EMV introduces. Business as Usual Myth #1.
For the little guy.....