Payment cards as we know them – plastic rectangles with magnetic stripes – have been around since the 1970s. Every swipe you make with a credit or debit card is a salute to technology that is nearly a half-century old. While the durability of this almost-ancient technology is impressive, the limitations of 20th-century equipment have become painfully obvious in today’s digital marketplace. Financial institutions and payment companies are pushing more advanced systems like EMV, point-to-point encryption (P2PE) and tokenization. Restaurateurs need to know the differences between these systems, as well as the pros and cons of what they offer. The Restaurant Technology Guys are here to examine the systems that will protect your data in the future. 3 Modern Security Systems to Protect Your
Critical EMV Questions Answered by The Restaurant Technology Guys There have been so many questions flooding our inboxes at The Restaurant Technology Guys blog and Custom Business Solutions that we felt it would just be easier to sit down and record a short video to address some of the most common questions. EMV is such a big deal right now and there is so much uncertainty as to what that means for the restaurant industry that we had plenty to talk about. Below are the questions we addressed in the vlog, but if you have any questions we didn’t address on the video, feel free to tweet us at @RestTechGuys or email us to have all of your questions answered… Or you’ll at least get our best effort!
The world of credit card payment systems has been getting rocked lately. From the large-scale credit card breaches at Target and Neiman Marcus to the changing economic landscape, big questions have been left unanswered. None larger, though, than the questions raised about EMV. Because of the regulations regarding the adoption of EMV in the US, most people don’t really understand what the implementation means and what will need to be done in order to be compliant with the new regulation. One of the first questions to answer is “What is EMV anyway and how does it work?” EMV is short for Europay, Mastercard, and Visa. This system has been around since the 1990’s and has been in use in many parts of the world