U.S. chip & pin / EMV credit card support in RGP - Update
Most folks are probably aware that in October 2015 there is a "deadline" regarding merchants supporting chip enabled credit cards in the U.S. The credit card term for this is EMV processing.
Specifically, merchants that don't support chip cards will be responsible for fraudulent credit card transactions that could have been prevented with chip cards vs. swipe cards. The credit card industry terms this a "shift in liability".
The good news for rock gyms is that fraudulent transactions don't often happen at rock gyms.. so materially this deadline won't impact climbing gyms if they do not meet the deadline.
There is NO increase in rates for not supporting chip cards by the deadline.
BUT.... Will RGP support chip cards? YES... ABSOLUTELY!
The entire U.S. processing industry is scrambling to meet this deadline... and XCharge (RGP's integrated credit card processor) is scrambling as well. Behemoth payment processor Square doesn't even support chip cards yet and just eludes to it being available in the future.
Once XCharge provides documentation on supporting chip cards we will integrate it into RGP as soon as possible. We are currently waiting for them to provide documentation. It is our hope to be able to meet the deadline in October, but obviously this depends on when XCharge provides documentation to us and then the effort required to modify RGP to support the new device.
You will be required to purchase a new chip-card enabled credit card terminal. XCharge is currently exploring supporting the following device - but that is not set in stone yet.
http://www.amazon.com/Ingenico-iPP320-Terminal-Contactless-Reader/dp/B00EN9INGM
So that's all I got.... you'll know more when I know more :)
Cheers
Andy
Comments
Quick update:
XCharge has not released the final integration yet... but I have explored integrating their test version. I suspect this will be completed right before the October date. That being said, a reminder that magnetic stripes will continue to work AND your rates will stay the same. The only change is a "shift in liability" that will have little to no impact on rock gyms since card-present fraud is almost nonexistent.
The integration will definitely get done, fear not, but the timing is to be determined.
Square (a massive card processor) hasn't even released their update yet. The entire industry is scrambling, along with XCharge.
Thanks for your patience.
Hi Andy,
Thanks for the update. In your opinion is the chip enabled credit card machine that you shared above a good option for a new facility that is about to buy credit card terminals? Or should we get old school swipes and upgrade to whatever Xcharge ends up using in a couple of months?
Thanks,
Will
Hi Will,
You need to order mag swipers for now. The EMV readers will need to come preconfigured from the merchant provider (Global Payments most likely). The good news is mag readers are cheap, and XCharge will probably even throw one in with a new account.
I will keep this thread updated as information becomes available.
Cheers
Andy
Some EMV card reader such as Syncotek SC-360 supports ISO14443 RF card and ISO7816 IC card read and write, as well as ISO 7810/7811 magnetic card read.
http://www.syncotek.com/product/card_reader_1.html
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