When it comes to enhanced security for your customers, chip-activated terminals are taking things to a whole new level. So how does it work? Chip cards and chip-activated terminals work together to protect in-store payments. A unique one-time code, generated behind-the-scenes, is needed for the transaction to be approved—a feature that is extremely effective in reducing counterfeit fraud. It’s easy for your customers to use and for you to adopt.
Features + Benefits
When you upgrade to chip technology, you continue to be protected from counterfeit fraud losses. As of October 1, 2015, businesses that don’t accept Visa chip card transactions may be responsible for any resulting counterfeit fraud. Similarly, effective April 17, 2021, Visa transactions made at ATMs and Automated Fuel Dispensers (AFDs) will be included in the Liability Shift Policy.
Visa chip cards are easy for your customers to use. Once your chip card terminals are enabled, customers will insert their cards into the terminal and follow the easy on-screen prompts. Learn how Visa offers you choices to provide your customers with an extra layer of security without disrupting their shopping experience.
Good for business
Investing in security shows customers you care about securing their payment card information, which positively enhances your brand. Investing in chip technology is helping pave the way for mobile and digital commerce, so you can offer your customers more services and conveniences.
Prepare for the future
If you haven’t yet adopted Visa chip technology, there are a few things to keep in mind: . Customers can still swipe their chip-enabled card at your terminals using the magnetic stripe on the back of the card and use their cards over-the-phone or online just as always. Whether your customers insert, swipe or use their card online, they’re protected from unauthorized transactions with Visa’s Zero Liability Policy.
* Visa’s Zero Liability Policy does not apply to certain commercial card and anonymous prepaid card transactions or transactions not processed by Visa. Cardholders must use care in protecting their card and notify their issuing financial institution immediately of any unauthorized use. Contact your issuer for more detail.