Merchants who accept chip payment cards may see the following benefits:
- Reduced fraud – chip & PIN provides increased protection against the use of lost, stolen, and counterfeit cards, resulting in a reduction of fraudulent transactions and chargebacks
- Operational efficiency – merchants no longer need to store sales drafts for chip & PIN transactions
- Increased speed at check-out – chip & PIN simplifies operations at the point-of-sale as your staff no longer needs to verify signatures; this can result in faster throughput
- Flexibility for future applications – chip offers a platform for the development of enhanced payment features and tools like OneSMART™ PayPass™ – the MasterCard® EMV contactless payment solution
How to Start Accepting Chip
To begin accepting chip cards, please contact your acquirer/payment processor.
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