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Chipping In to Prevent Fraud

Adoption of EMV chip technology by merchants may be slow but it’s already working to prevent card fraud. I was recently interviewed for the article Chipping In to Prevent Fraud by Jason Busch for InBusiness Madison magazine.

This article is a nice recap of where we started in October 2015 as the liability shift went into effect and where we are heading as chip cards have become prevalent. Here at Wind River we are working diligently to convert our clients to EMV capabilities to reduce card present fraud. As expected EMV is fueling a shift to online fraud. We are prepared to help you there too.

Our Team of payment experts is recognized as “Best of the Best” in the payment industry. If you have concerns about your security or EMV capabilities let us help you. If you are confused by the industry jargon, let us help educate you. Our entire team is ready to assist you. Just contact us.

Are you feeling it? Chargebacks are on the rise.

Just like they said, it is happening.

We can confirm that our customer base has been experiencing increased chargeback losses due to the liability shift which began back on October 1, 2015. Chargebacks are increasing and occurring across all types of markets and states. From reading the trade journals and recent surveys it appears there are few industries and regions that have been hit the hardest since the liability shift began.

Top Merchant Categories:

  • Restaurants
  • Bars
  • Quick Service
  • Vending
  • Petroleum
  • Online retailers

High Risk Areas:

  • College towns
  • Large cities
  • IL, TX, NY, CA, FL, NJ
  • Foreign cards or Border areas

Some common fraudulent activities that should get your attention when a chip or EMV card is being used include:

  • If you notice the same individual using multiple cards, something might be amiss.
  • Large orders: if someone is going to steal they usually go big on one purchase!
  • Gift cards: “digital goods” including gift cards are being specifically targeted by criminals.

Keep in mind these best practices:

  • Always process chip cards as intended by inserting the card and following the instructions on the terminal.
  • Only swipe a chip card if your EMV terminal tells you to do so after inserting it.
  • If a chip card is declined, ask for another form of payment.
  • Criminals are making counterfeit magnetic strip cards with data stolen from EMV cards (because they cannot counterfeit the EMV chip). Since you have no way of knowing if a card is supposed to have a chip on it, if you swipe a magnetic stripe card and it is declined or says to insert the card, ask for another form of payment as opposed to trying to get it to work.
  • For non-PIN transactions, request a signature and verify.
  • Swipe non-chip cards, don’t manually enter account numbers.
  • If you must manually enter a card, check the expiration date and make an imprint.

Rest assured the Wind River team is working diligently behind the scenes and delivering on our “After the Handshake” promise to your business by monitoring for incomplete or incorrect disputes.

EMV Acceptance: what we are seeing, reading and hearing.

I want to circle back and share an update with you on what we have been experiencing since the October shift in liability so that you might have an idea of where you fit in the process.

Thirty seven percent of U.S. merchant locations are fully equipped for EMV card acceptance, narrowly missing a projected 40% rate of deployment predicted by management consulting firm Strawhecker Group, according to recently published research.

Wind River definitely experienced the push in countertop terminal purchases late last fall in anticipation of the October 1, 2015 start date of the liability shift. That was quite a challenge as suppliers struggled to keep up with the demand!

Our counter top sales continue to be brisk as those clients who had decided to wait until after the holiday crush are converting. Many clients are also finding that their older terminals will “end of life” and no longer be supported with help desk assistance and software updates as suppliers are focusing their resources on newer secure EMV compliant terminals. Opting to avoid a crisis situation, they are purchasing now.

We agree, now is a great time to purchase a new EMV counter top card ready terminal. Chip cards are becoming pretty prevalent as you may have noticed from your customers. Also, as mentioned in a previous blog, these new terminals will also allow you to easily accept payment from your customers who are using their mobile wallet in their smartphone. We are offering installment purchase payments over three months which even makes it easier on your wallet.

While counter top terminals are being deployed now, EMV migration has been slower for integrated POS systems and equipment suppliers that support those systems are still working through EMV development and certification testing. We are watching the pipeline of certifications almost daily and are in contact with our clients to help them navigate the path forward. We want to be a resource to you and your POS vendor as this process continues to unfold, so don’t hesitate to contact us.

We realize this is a transition for everyone and we want to be supportive.  It is an honor being a resource to you when it comes to this part of your business. Let us relieve your worry, offer you solutions and assist you in serving your customers’ payment needs.

Client Care Team

info@WindRiverFinancial.com or 800-704-7253 option 4.

Important Information for Virtual Terminal and Mobile App Clients

We want you to know that we are keeping in close touch with the Virtual Terminal and Mobile App providers as they work through the process of certifying new hardware and software so that you can accept Chip Cards when the card is present for the transaction. Just a reminder, EMV does not pertain to transactions when the card is not present.

The process and timing of certifying hardware with the card processors varies by the particular providers. Be assured we will keep you informed when the new hardware is available and will assist you with the set up and utilization.

In the meantime, if we can assist you in any way please contact our Client Care Team or your designated Relationship Manager.

For those who might be asking….What is a virtual terminal? A virtual terminal is an internet-based facilitator of electronic payments. It allows you to process swiped or hand-keyed transactions using any computer with an internet connection.

Mobile apps allow you to process swiped transactions via a mobile app that is downloaded on a smart phone or tablet.

If you are thinking you would like to consider these types of processing for credit card transactions, we can help. Go here to learn more and contact us for a free consultation.

Holiday Inventory got you needing capital? We can help. Consider Merchant Funding.

Speed up Your Line by Helping Your Customers Use Their New Chip Card

Do you have your new Chip Card terminal but customers are stumped what to do? Have you begun to notice more chip card readers at the check-out?

Until the majority of consumers are trained what to do, you might find it helpful to have directions that you can print out and post to help your customers easily understand what steps to follow when it is their turn to check out with their chip card.

Use this link to print a flyer in color or black and white for use in your store. This might be helpful to educate customers as they wait in line during the busy holiday season. Once everyone gets the hang of it, it won’t be necessary.

Speaking of waiting in line, the speed of a chip card transaction may seem slower because the flow of the transaction is different. Under the old method, the store employee controlled the speed of the transaction from start to finish. Now it has become a two party process with the customer directly involved by following the prompts. We have tested it here in our lab and found the speed of the transaction once the card is inserted to when the sale is complete is the same. So, the difference in transaction time may be in the initial education and speed of your employee and the customer reading and following the prompts.

We hope that this printable flyer will help you assist your customers.

On a personal note,  want to read about how to find the best checkout line?  Go here!

If we can help you in some way contact Client Care by going here or calling us at 1-800 704-7253.

PS Need capital to fund your business over the holidays? Contact us about Merchant Funding.

New Webpage Resource for your Chip Card Questions

So, how are you feeling about the Chip Card October 1 liability shift?

After a few weeks of frenzied phone calls and emails we are ready for a breather and are finding that we are back to a more normal pace of daily activities of helping our clients.

We continue to reach out and talk with clients like you, to make sure that they are making an informed decision regarding the liability shift and the implication it might have on their businesses.

If you haven’t gotten a personal phone call or an email from us, we encourage you to review our new website page dedicated the topic of How and Why Should I Accept Chip Cards. We hope you will find it to be a great resource. Go here to find tools and the steps you can review to help decide what actions, if any, you may wish consider.

From the graphic above, you can see we all have a ways to go in moving the United States toward utilizing the Chip Card as fraud protection. Even though this change has been in the works for over four years, we have been finding that really October 1, seems to be the starting date to get this on the top of the priority list for many of the parties involved including processors, hardware and software vendors.

For those who have already made the switch, hats off to you and congratulations on your accomplishment. This is an important step in protecting your business and your customers. For those of you that are still traveling down the path to be Chip Card Ready, we appreciate and thank you for your patience in receiving your new equipment and/or certification of your gateway or POS system.

We look forward to working side by side with you during this conversion and shift in the payments industry. Remember you can always speak with a Relationship Manager about accepting Chip Cards by contacting us by phone (800) 704-7253 or email us by going here.

PS Just a reminder that the Chip Card Liability shift only applies in “card present” situations. To get the facts go here!

October 2015 Interchange and Network Fee Notification for Payment Processing

Effective October 1, 2015, there are a number of new and enhanced fee structures that are being implemented by VISA, MasterCard, Discover Card, and other network providers. Wind River Financial believes in transparency of all association fees applicable to your merchant processing costs, so we will be passing through these changes with no additional mark-up. For a full listing of these new fees please go to our web site in our Merchant Portal and Resource Library and look for the title October 2015 Interchange Modifications.

VISA Interchange Fees and New Programs – Visa will Implement new U.S. interchange programs to support tier qualification requirements for business card transactions. For details click here.

MasterCard Interchange Fees -MasterCard introduced new Interchange programs for U.S. Data Rate 1 Healthcare for the MasterCard Commercial Payments Account and MasterCard Prepaid Commercial Payments Account products. Click here for details.

Discover Card Rate Changes for Existing Prepaid Interchange Programs – Discover will implement new U.S. interchange programs for e-commerce transactions. Click here for details.

Wind River Fee Changes- On October 1, 2015 Wind River will increase PCI non-compliant fees by $5.00 per month.

EMV Liability Shift – On October 1, 2015 card present counterfeit fraud liability will shift to the party that has the lesser technology. Therefore if the merchant is not EMV enabled the counterfeit fraud liability will shift to them. For details click here.

WEBINAR Chip Cards and Reducing Fraud – Recorded for your convenience

Is it still a mystery to you as to what makes EMV technology more secure? If this is so, and with that in mind, Wind River is offering the opportunity for our clients to participate in a webinar hosted by our security partner, Trustwave.

“EMV Chip Cards & Layered Security” is a webinar that explores EMV technology and how it can be effective in combating fraud. The webinar will also focus on what the impact of EMV migration will be for business owners. You will also learn more about “encryption and tokenization” which are becoming common day language in the credit card world.

We encourage you to participate in this one-hour webinar on Thursday September 17th at 1:00pm CST. You can register for the webinar here. Just click on “Register” and fill in the necessary information.

Now that the date has passed for the live webinar, you can still catch the presentation.  You can view the slide presentation by going here.  Or you can listen to the 30 minute recording by going here.

This is a great opportunity to hear professional experts talk in easy to understand terms and even humorous at times. Trustwave helps businesses fight cybercrime, protect data and reduce security risk. With cloud and managed security services, integrated technologies and a team of security experts, ethical hackers and researchers they are well-known internationally for their work.

We hope you will set the time aside on your calendar and as always, you can contact us with questions or concerns 1-800 704-7253 or info@WindRiverFinancial.com.

Don’t Miss the Boat

Get in the queue now or you might not get your new terminal before the October 1st date.

With the chip card liability shift just around the corner, we are beginning to see supplies of counter top terminals dwindling as the demand increases! This supply problem isn’t unexpected and we want to make sure our customers are ready to go! No need to wait any longer, we offer various counter top terminals to suit your needs.

From my own experience, I have been averaging over six new equipment trainings a day on these new terminals. I am getting great feedback about how much our customers like the new hardware, how impressed and excited they are about ApplePay and EMV. They say it is so easy and sleek, they wished they had purchased their terminals months ago!

Give us a call (800) 704-7253 or (608) 243-3264 or write me today at info@windriverfinancial.com to learn more about these new terminals.

Come on along….. Seriously, I don’t want you to miss the boat!

Terminal Buying: The Costs and the Risks

When I’m looking to make a purchase, my first question is usually about price. What is this going to cost me? It’s natural, and it’s easier than ever to shop around for the best deal on anything with a quick Google search.

For simple purchases, this approach can work well. If I’m looking for a new toaster, all I need to know is how much it costs and maybe a few other details. I don’t have to worry about the toaster being incompatible with my bread or my wall socket, because all of that is pretty universal. I can look at a few toaster models and make a selection with a minimum of research and be confident that I won’t have any problems making toast.

It’s nice when buying decisions are that simple, but as we all know some things are complicated and require a little more expertise. At Wind River, sometimes we see business owners trying to buy a payment terminal the same way they would buy a toaster. This used to be possible without a lot of repercussions, but as terminal security requirements have tightened and terminal software has gotten more complex, buying a cheap terminal online has turned into a real trap. Repeat after me: terminals are not toasters.

EMV terminals have different software versions for different processors. If you purchase a terminal online, there’s a real danger that you will end up with a machine that looks right but is impossible to use with Wind River. If the terminal has the right software, it still needs to be programmed before it will work. This takes time and costs you money, and there is always a risk that the terminal has been locked and can’t be programmed at all. Finally, to be compliant with EMV requirements, the terminal needs the proper encryption. Encrypting a terminal is not something that can be done over the phone. The encryption process can only be done by one of our hardware vendors, so you would need to ship that terminal to them, pay for the encryption service, and then wait to get your terminal back before your new machine is ready to use.

When you buy a terminal online, at best you are buying a machine that is not ready to use, and at worst you are buying a machine that you can’t use at all.

When you factor in the costs to get a terminal ready and the time spent shipping your terminal back and forth, you don’t save any money by buying online from someone else. In fact, all you get is extra hassle and waiting before you can use your new machine.

If you are a current Wind River customer looking to upgrade to a chip card terminal, contact your relationship manager today and let us guide you through the process. We’ll save you time and trouble by providing you with a new machine that is guaranteed to work and ready to use.

How do I get help?

Don’t hesitate to email us at info@windriverfinancial.com or call us at 1(800)704-7253