EMV is here. Do you truly know exactly what it is and what your liabilities are as a team? The risks from not knowing could be nonrefundable fraudulent charges or, even worse, scammers could be targeting your venue because they know EMV is not in place and your team is unprotected. Plus, if a fraudulent card is used at your facility the team may be on the hook for charges throughout the stadium at a much bigger price tag.
EMV/Chip Card Reader Facts
What is EMV? It stands for Europay Mastercard Visa, which is a system that now will connect a customer’s personal information via a chip on the credit card for a more secure transaction to prevent fraud. The system is already in use in Europe and Canada.
What hardware is changing? The process is called chip and sign or chip and pin, depending on the credit card type, and requires a certified EMV reader and security tether. The idea behind EMV is that the credit card never leaves the owners hand for transactions. Stadium 1 uses Ingenico Terminal chip readers interfaced to the POS system. This solution is also able to provide mobile payments by handhelds.
What is different? It shifts the liability from the banks being responsible for fraud charges to the merchant (your team) being responsible for these charges if a chip card is not read by a chip reader.
How do you know your vendor is prepared for EMV? Your POS vendor should provide your team with a certificate of compliance or EMV Gateway with an out of scope certificate. The Stadium1 solution includes this certificate and point to point encryption with transaction token protection.
Here are five important factors to consider when converting to an EMV payment system:
1. The team should ask for an EMV certificate of compliance or certificate out of scope using an EMV gateway from the POS vendor, including PCI Point to Point Encryption. This means token protection all the way from the EMV device over the network and back to your POS unit’s card reader to ensure credit card information is fully encrypted, not viewed or stored locally by the POS. This way transactions are fully handled by the EMV terminal and network with only token-based transaction amounts being provided to the POS system.
2. EMV provides the ability to handle all mobile payments, the fastest-growing segment of the industry. This includes the ability to handle Apple Pay, Google Wallet or Samsung Pay, just to name a few. Remember, we want to attract younger fans that will be paying with these new mobile payment methods.
3. EMV also includes NFC (Near Field Communications), which encompasses all types of mobile payments. Be sure this is part of the offering.
4. Be sure you can combine the loyalty program and your gift certificates, which can pass through the same EMV device to be fan friendly regarding other tender types. (Stadium1 already has this as part of our system offering).
5. It is important to note Stadium1 already has in place an EMV-approved gateway that connects to our EMV solution for full out of scope protection, which works with almost all of the credit card processers and banks in United States. Stadium1 is well ahead of the curve on EMV and has incorporated this technology within our programming design architecture.
In summary: Stadium1 has you covered with EMV due to our extensive research and development. We want our clients protected and have committed major resources to make this happen. Connect your team to the future for mobile payments to continue to bring the younger fans in to fill up your stadium. Furthermore, we combine our unique POS features, such as our fan loyalty system and gift cards, to enable our clients to use this new technology to drive more revenue opportunities.
About Stadium 1: Our software was designed specifically for stadium operations. We were born online and created from the ground up with a solid foundation of utilizing the most advanced cloud-based software programming technology tools, designed by a multi-team owner with a world-class technology background.
Stadium One exists in the market today with tools that can help teams increase revenues, reduce theft and waste while cutting expenses. We link all departments into a real-time system so ownership can make more informed pre-game, in-game and post-game decisions in a snap.
This revolutionary technology is something you have to see to believe.
To learn more please contact Ed Mullen at ed.mullen@stadium1.com or call 561-704-1414.
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About the author — Ed Mullen is an invited nationally recognized speaker and author on sports technology. He performs educational seminars on connectivity solutions for stadium, arenas, sports complexes and college venues. He has managed and implemented over a billion dollars of technology into thousands of sports venues worldwide. His passion and understanding his client’s goals and objectives, enables Ed, and his team to develop, market, and implement these unique sets of SAS services. The results are meeting the needs of his customers, allowing them to maximize their full revenue potential.
