What does EMV mean?

EMV is short for EuroCard, MasterCard and Visa – the initiators of this international standard. The EMV-standard, which will be supported by other card organisations such as  American Express and JCB in the near future, has been developed to guarantee a maximum security of electronic payments. This is obtained by replacing the familiar magnetic strip on bank cards (PIN) as well as on credit cards by a chip. Chip transactions with a pin code offer extra protection in case of loss or theft.

Companies using chip and pin terminals are no longer held responsible for costs related to card fraud, provided the check-out staff follow the instructions on the payment terminal and respect the usual security rules. Using a payment terminal which is not fitted for EMV makes you liable for losses or chargebacks caused by dubious transactions.

How to choose a payment terminal which is fitted for EMV?

Several makes of payment terminals fitted for EMV are available on the Dutch market. Please consult www.betaalterminal.nl or contact your terminal vendor.

Can you still accept credit cards when you decide not to adapt your payment terminal?

Yes, you can accept credit cards with and without an EMV chip with a payment terminal which is not fitted for EMV. But you will be liable for costs incurred as a result of fraudulent transactions.

More information on EMV can be found on:  www.vanstripnaarchip.nl