EMV Chip and Contactless Transactions
Now, instead of just swiping debit or credit cards on your Sagicor POS device, you will be able to “DIP” or ‘TAP” cards enabled for chip and contactless transactions.
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EMV Chip Cards EMV Chip technology is the most recent advancement to combat counterfeit and card fraud and to protect card data. The technology features a micro chip embedded in the credit/debit card.
Consumer Benefits
Convenience and Ease of Use
Instead of swiping a card, customers simply dip or tap their cards at the POS terminals.
Safety and Security
The EMV/Chip Technology standard provides protection through encryption and dynamic data technologies, and is safer and more secure than the magstripe technology.
EMV Benefits
EMV enabled cards are inserted instead of swiped and are processed much faster. They even create records of your stock levels and bookkeeping data.
Extra security
All your sensitive information is now secured.
What will you need to accept Chip Cards?
Before you can accept chip card payments:
1. Your point of sale must be enabled to do so.
2. Staff must be trained to identify the gold or silver square on
the front of the card, and guide on steps to complete their transaction.
3. Staff must be familiar with the card check-out process.
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“Tap” or Contactless Transactions Benefits
Operational Efficiency
Contactless transactions are faster than both cash and conventional card transactions.
Chip & Contactless
Your upgraded Sagicor Bank POS & SWYPE® terminals will be able to accept & process both Chip & Contactless cards. All models will be able to process chip cards
however not all will be able to perform contactless transactions. Look for the symbol.
Business owners and employees will need to be aware of the new rules with contactless payments.
Training will be required on the new transaction flows on your SBJ POS device.
Competitive Differentiation
Consumers with contactless payment devices use them often and exhibit greater loyalty to retailers that accept them.
