EMV stands for Europay, Mastercard and Visa. It is a global standard for authenticating credit and debit card transactions with integrated circuit cards, or “chip cards” at capable point-of-sale (POS) terminals.
In October 2015, the major processing banks implemented a shift that transferred fraud liability to merchants who accept fraudulent chip card transactions, unless they use EMV-capable (POS) devices. This fraud liability impacts healthcare organizations as well. Before October 2015, the issuing bank was liable for POS card-present fraud. This transition from the issuer to the merchant on October 1, 2015 is known as “the liability shift.”
Effective April 13, 2019, all merchants that accept contactless payments must support EMV contactless chip functionality. InstaMed is prepared for this mandate and only delivers compliant devices to merchants.
By 2020, Mastercard and Visa will require all U.S. merchants to accept contactless payments. InstaMed has multiple device options for providers that meet this mandate.”
Below are some recommendations on measures merchants can take to accept their patients’ chip cards:
There are two ways that EMV protects merchants:
To learn more about how InstaMed protects against POS fraud and reduces PCI scope, read our Security and Encryption in Healthcare Payments White Paper.
There are two different verification methods:
*Mastercard, Discover, American Express and Visa no longer require signature verification for EMV transactions.
New payment transaction devices are required; instead of simply swiping a card, a consumer must “dip” or insert their card into a PIN device and enter a PIN before a transaction is processed.
EMV by itself does NOT protect the merchant from a data breach. EMV will protect healthcare organizations from accepting fake credit/debit cards at the point of service. Encryption will protect healthcare organizations’ networks in the event of an enterprise-level data security breach. When implemented properly, InstaMed payments with encryption can almost completely eliminate the risk of a data breach. Read more about getting started on the InstaMed Developer Portal.
No. In order to accept EMV payments with InstaMed Online or InstaMed Connect, merchants must use one of the following encrypted EMV devices: Ingenico Lane 3000, Ingenico Lane 5000 or the Ingenico Link 2500. The following models support encrypted magnetic card swipe, EMV, and NFC (Apple Pay):
No. Additional information will be automatically generated on the receipt for EMV transactions.
When a credit card is swiped, the encrypted EMV devices can detect whether a chip is present. If the card does have a chip, then the cardholder will be prompted to insert the card into the EMV reader location. If the cardholder continues to attempt a swipe, the device will repeat this workflow three times before ultimately allowing the swipe.