The shift from magnetic stripe credit and debit cards to EMV chip cards has been a slow and complex process. As the new laws enforcing these cards took effect on October 1st, is it important to note the ways in which you can educate your restaurant’s employees to better understand EMV. In turn, Indianapolis Cyber Liability can be reduced and business can run more smoothly.
According to NCR, providing your staff an end-to-end EMV education can limit the operational impact felt from EMV technology. Here are a few keys points of information that employees should become familiar with.
Know what the Chip Looks Like- To remain efficient, employees should recognize which cards are equipped with the EMV chip and which ones have the magnetic stripe in order to process the transaction quickly. For chip cards, train employees on how and when to insert and remove the card, and teach them how to assist customers to do the same.
Swiping or Inserting the Card- EMV chip card transactions take about 15-20 seconds longer than their magnetic stripe counterparts. If the customer takes the card out before it is finished, the entire process starts over. To prevent customers from becoming flustered, staff should be aware of how to operate the machines for both types of cards.
Purchase Verification- Both pin and signature chip cards are available. Especially in restaurants, if the card requires a pin, providing the customer access to the payment terminal can be tricky. While the pin cards are mostly issued to international travelers, there are plenty in rotation today. Whether a pin or signature is required at the point of sale, the employee should be equipped to manage each.
Help your Guests- As employees and customers alike are learning to use this new system, it is important to remain patient. Not only will this learning curve assist your guests, but helping them and remaining positive will boost your reputation and promote customer retention.
At Walker & Associates Insurance, we understand the implications that EMV chip cards have on your restaurant. However, as they seek to reduce liability exposures and limit fraudulent activity, this development can provide plenty of benefits for your restaurant. Our cyber liability insurance programs offer unique protections against the threat of data breaches that plague today’s businesses. For more information, contact our specialists today at (888) 760-7292.