EMV Chip Card Update

EMV® is a global standard for credit and debit payment cards based on chip card technology, taking its name from the card associations Europay, Mastercard, and Visa – the original developeds. With so much press around the U.S. migration from magnetic swipe credit cards to the chip card technology, there is no need for panic as we believe that this transition will take a year or two to complete. Dharma Merchant Services has been deploying EMV-capable terminals for over a year now, but the processing networks have not been able to process chip cards until just recently. Merchants that use POS systems such as Micros, Squirrel, Digital Dining, etc. will need to reach out to their system provider for updates, but for stand-alone terminal owners, we will be emailing merchants with a schedule on how to download the new applications to begin acceptance. IP-enabled terminals will be in the first wave, since these can be easily facilitated by merchants calling into the network provider for reprogramming.

For merchants that are still using dial-up terminals, the reprogramming process may be quite time-consuming, taking many hours of time to complete. Dharma will identify and reach out to those merchants with an option for purchasing updated IP-enabled terminals or a swap-out program for our in-house deployment team to reprogram. Messaging will begin in September for this initiative. (Click here for more information about EMV).

For merchants that are still using dial-up terminals, the reprogramming process may be quite time-consuming, taking many hours of time to complete. Dharma will identify and reach out to those merchants with an option for purchasing updated IP-enabled terminals or a swap-out program for our in-house deployment team to reprogram. Messaging will begin in September for this initiative. (Click here for more information about EMV).