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eClean October 15

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How "inexpensive," you may wonder? Most mobile cleaning companies use card readers – like the Square or Paypal reader, or something similar – that plugs into a mobile device for charging credit cards. Here's what these companies are offering (as of October 19, 2015): • Square – their EMV reader is currently $29, with tax being calculated at checkout plus free shipping. • Quickbooks – their reader can be pre-ordered for $30 + s/h, but is not yet ready for delivery. However, Quickbooks is waiving the liability on their old readers until March 31, 2016. So while their EMV readers are not yet ready, you will not be held liable if a fraudulent charge is placed using an EMV card on their old reader. • Paypal – Their EMV reader is a little fancier looking, and thus, quite a bit more expensive. Currently, a Paypal EMV reader costs $149, but comes with a $100 rebate to your PayPal account after $3,000 has been processed within three months. If you use a different payment service and haven't already, check with them about their EMV reader and policies. If you've received a new credit or debit card lately, it likely has a small square "chip" on the back rather than a magnetic strip. That little square is actually a small computer chip called an EMV ("Europay, MasterCard and Visa"), which makes it much more difficult for hackers to counterfeit because the codes change regularly. Many parts of the world have been using EMV cards for awhile, but their use is just now starting to grow in the U.S. Perhaps that's why nearly half of the world's credit card fraud happens in the U.S. despite the fact that we can only claim about a fourth of all credit card usage. Credit card companies and banks are none too happy about having to pay for all these fraudulent charges, which is why there is a strong push to switch to EMV cards. The only problem is that EMV cards can only be read on EMV readers – and that's where you, the small business owner, will be affected by this change. As of October 1, small businesses – like yours – can be held liable for fraudulent charges that occur when they run an EMV card without using an EMV reader. You won't be held liable for magnetic cards that are run, or online payments that are hacked, and so on. Only EMV charges on a non-EMV reader. For some retail heavy businesses, having to switch all card reading technology to EMV systems is going to be pretty expensive. For contract cleaners, however, the cost is minimal and therefore definitely not worth the risk of not switching. Have You Switched to an EMV Card Reader Yet? As of October 1, small businesses – like yours – can be held liable for fraudulent charges that occur when they run an EMV card without using an EMV reader. "EMV" 32 by Allison Hester

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