It’s 2016, and just like any other year, many of us are starting off the year with new goals and new plans to accomplish them. Many businesses also implement changes and improvements at the beginning of a new year. These changes can vary greatly depending on the needs of the business, plans for growth, as well as the ambition of the people who work at the organization. Because consumers are also setting their own personal New Year resolutions and are just generally in the mood for change, the beginning of the year is a great time to make some upgrades to your business and show you care about keeping up with the changing times.
With the recent updates in the payments ecosystem, updating your POS terminals is a great way to improve your business. Although making a major shift in the technology you’re using may seem like a large undertaking, with the right plan and the right resources, it can be pretty easy to do.
First, make sure you know why you should update your POS terminals. The recent switch to EMV is, of course, one huge reason to do so. With the United States’ adoption of this technology, merchants will now be held liable for any fraudulent payments they accept without updating their terminals to EMV capable devices. Upgrading to EMV capable terminals will not only protect your business and your customers from fraud, but also save you money in the long run. You can learn a lot more about switching to EMV technology right here on our blog.
Smart chip cards aren’t the only technology you should make accommodation for. NFC, near field communication, is the actual technological requirement that a terminal must have to accept EMV cards without inserting the chip into the terminal. This is the same technology that allows for mobile wallet payments like “Apple Pay” or “Google Wallet” to be processed without the presence of any credit card. These types of transactions have become popular because of the elimination of the