NOTE: The Denticon Support team supports only Denticon and its own related products. As the TSYS / TransFirst company and its financial credit card processing is solely handled by TSYS / TransFirst , it is best that TSYS / TransFirst assist the office with questions about credit card processing requirements. TSYS / TransFirst may be reached at 800-654-9256.
The following information is provided from the TSYS / TransFirst credit card processing company.
What EMV is –
- EMV stands for "Europay, MasterCard, Visa"
- The technology applies to EMV cards which use integrated chips within the card for the card reader to process the authorization for the sale, instead of using traditional magnetic stripes.
What is driving the new regulations –
- Banks are continually shifting towards issuing EMV cards to their customers because of the technology’s superior security standards as compared to the magnetic stripe
- The demand for EMV from cardholders are driving the new regulations which are upheld by all credit card processors.
How to prepare your practice for EMV –
- Dental practices will need to ensure the office is using EMV compliant card readers through the office’s physical terminals which are provided by their credit card processing software provider (i.e., TSYS / TransFirst). If there are questions regarding how these are provided, please contact the vendor from where the card reader was obtained.
What the Liability Shift Means –
- October 2015 is the deadline for the Liability Shift for merchants concerning EMV capabilities. Starting in October 2015, any merchant who is not using an EMV capable device and receives a Chargeback on "card present sale" on an EMV card, the merchant automatically will not have chargeback rights to this dispute.
- The merchant will then be at Risk of losing funds due to Chargeback disputes from EMV cardholders since the merchant will not be able to refute these claims.
How to implement the new EMV technology –
- The merchant must keep updated with the office’s credit card processing terminal(s) and software on when future updates occur regaring the implementation of the new EMV capabilities.
- Currently TSYS / TransFirst is in the process of finalizing applications for TSYS / TransFirst -supplied physical supported terminals but has not given a release date as of yet. Virtual terminals using card swipers do not yet have a solution for EMV capabilities; however, TSYS / TransFirst is working on it.
- EMV Implementation Software and terminals that merchants use that are not provided by TSYS / TransFirst . You will have to consult with their providers on their implementation plan.
The benefits of converting early –
- Having EMV capable equipment or card readers early ensures that the office will get updated the fastest.
- Once TSYS / TransFirst has solutions ready for physical terminals and TSYS / TransFirst -supplied virtual terminals card readers.
- Any equipment not provided by TSYS / TransFirst will have to be addressed with the provider.