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Chip & PIN Payments

July 10, 2016

Chip & PIN Payments

Chip and PIN technology has predominantly replaced magnetic stripe cards; we can help you to be ready to accept these cards. These payment cards, containing a microcomputer chip, also known as smart cards, bring Canadian merchants and customers a full range of benefits including:

Enhanced Security and Fraud Reduction
Chip technology is virtually impossible to copy and combining its use with a PIN helps reduce lost, stolen or counterfeit transactions.

Reduced Chargebacks
The use of PIN transfers merchant responsibility for authentication (verifying a signature) to the Chip technology, and in turn reduces chargebacks.

Faster Authentication
PIN is faster than a signature, reducing the time spent on requesting and verifying cardholder signatures.

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