EMV Deadline Approaches While SMEs Still Not Ready

For multiple months there has been many business owners updating their credit card transaction process so it will accept the new and improved credit cards using the EMV- chip. How these new credit cards are being created is with a computer chip placed inside the EMV credit card itself rather than having the old magnetic strip run along the outside. The computer chip will actually be what houses all personal and account information which is much more secure in comparison to the magnetic strip.

The issue taking place at this time is with business owners who have been using credit card readers. The current credit card readers are only good for magnetic strip credit cards and will not work on the EMV credit cards that are now being used. So business owners can do one of two things 1) move forward with a change to current EMV credit card reader or 2) upgrade their hardware and software to meet requirements of financial institutions to ensure the protection when reading the EMV credit cards for each and every transaction.

Business owners do have their work planned out for them with the matter of EMV credit card capability as this financial matter must be secured for all persons involved; it is a matter of safety and urgency to complete this issue as quickly as possible. Business owners are doing the best they can to complete the task for having the correct EMV point-of-sale terminals as quickly as possible. However, some business owners did clearly say they may not be able to obtain the EMV point-of-sale terminals until after the October mark safely. But at least every business owner is doing the best they can to stay abreast with the EMV credit card changes and do their part by having the correct terminals on site.

If you are in need of new equipment or assistance with the EMV shift please contact Sunlit Merchant Services today for the best pricing and customer service in the merchant processing industry.

Bitcoin is in the News Once Again

For a bit of time the social media news has been rather silent on the activities of bitcoin being used in the global matter of currency exchange at least until now that is. As of August 24, bitcoin has come alive once again in the Middle East, Iranian market to be exact, via the launch of a business named BTXCapital. Who is his company? BTXCapital is a bitcoin exchange company based directly in Iran.

BTXCapital will perform the purchase and selling of bitcoins to provide the ability of bank transfer into or from the local Iranian Rial currency. Fees will be charged for this service and they will differ for this service. The company has spent time in writing out a financial policy for explicit details to ensure everything works correctly with consumers who wish to use this service. If anyone is interested in learning more about the company BTXCapital can be followed on Twitter or they do have the website BTXCapital.com created for visitors.

There are doubts of bitcoin returning by some after seeing what took place to the large turnover a few months ago. Considering the company is in the Middle East under different currency laws it can operate for quite some time without being effected. There are questions surfacing on how long the Iranian government will allow the bitcoin continue to be used as a financial exchange within the country. Only time will tell as to how the Iranian government can and will react to this legal concern because the bitcoin does open an entirely brand new culture market which no other business has dare attempted to market or enter.

Visa Exploring Blockchain to Power Money Transfers
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Visa Exploring Blockchain to Power Money Transfers

Visa’s diving into blockchain technology with a brand new project focused upon revamping remittances. Visa Europe Collab, the company’s innovation arm, is working on a proof-of-concept in order to “explore an alternative to conventional remittance processing” using the blockchain. They’re teaming up with a Bitcoin startup called Epiphyte, which helps the big financial players gain […]

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