for chip cards
A simple and secure switch to EMV and Apple Pay
What is EMV?
If you’ve been following recent retail news, then you’re probably aware of the big change in the world of payments technology - the shift towards a more secure standard for credit cards, EMV. As U.S. retailers, this means that if you haven’t upgraded your payment devices to support EMV technology, you (instead of your bank) will be held liable for any fraudulent charges made in your store on EMV-compliant cards (also known as “chip cards”). This rule came into effect October 1, 2015.
Learn more about how to prepare your business for the switch to EMV and protect yourself against credit card fraud. Get our free EMV and Mobile Payments eBook.
What if you don’t adopt EMV?
The U.S. has been plagued with the highest credit card fraud rate in the world for the last five years. Largely due to the lack of EMV regulations, 47% of all card fraud occurs in the U.S. (yet only 24% of global credit card transaction volume occurs here). Traditional magnetic cards have static data that can be easily cloned and lead to fraudulent transactions. By switching to chip cards, you.
- Decrease your exposure to counterfeit cards: the microchip in chip cards is virtually impossible to duplicate, as it creates a unique impression each time it’s used
- Increase customer confidence with more secure processing
- Reduce operational costs resulting from fraud
- Join the rest of the world’s retailers in the fight against payment card fraud and adopt the new way to pay
Small chip, more security, and we’re ready
In order to ensure that your store is protected, our development team is currently working on officially supporting both EMV and NFC-based payments, including Apple Pay, Samsung Pay, and Android Pay.
Equip your store with
the right terminal
Cayan's Genius terminal is currently the only official payment terminal capable of supporting EMV and NFC-based payments, like Apple Pay, with Lightspeed OnSite. We will continue to support all current integrated methods (Heartland, Axia, and Authorize.net) for magnetic stripe payments, but will not offer EMV compliance or NFC payments with these processors.
What about Apple Pay? By upgrading to the Cayan Genius terminal you’ll also be able to run Apple Pay transactions. Simply call into Cayan at 1-855-276-1566 with the serial number of your Genius device.
Like EMV, Apple Pay is only officially supported on OnSite 2015 2.2 and later
Making the switch
Your transition should be simple and secure, just like EMV. We’ve outlined next steps to ensure you’ll be ahead of the game and ready to accept EMV payments.
Cayan and Lightspeed POS
Through our partnership, Cayan is offering a lowest-cost guarantee and a “meet or beat” policy. This means that if you currently use another processor or are offered a lower rate later on, you can send it to your Cayan account representative and it will be matched or beaten.
Cayan has been in business since 1998 and has a strong reputation as an innovative and world-class provider of payments solutions. In addition to EMV, Cayan supports point-to-point encryption and tokenization with all Lightspeed products, giving you a critical extra layer of anti-fraud support. The company currently holds an A+ rating from the Better Business Bureau. Lightspeed has been working with Cayan for many years and is proud to have Cayan as a preferred payment solution in the United States.
To learn more about Cayan and EMV - watch this webinar or get in touch with them directly at 1-855-276-1566 or [email protected]