Swypit CEO Kevin Hodes Urges Business Owners to Update POS Systems to Be EMV®-Compliant

Swypit CEO Kevin Hodes urges business owners to update POS systems to be EMV®-compliant due to the growing rate of the new chip-card technology in the U.S.

Frisco, TX – Feb, 5– Kevin Hodes, CEO of Swypit has published a new blog entitled “EMV Gets a Foothold in the U.S.” In the blog post, he offers statistics that project the increasing implantation of EMV® cards in the U.S. and encourages business owners to consider updating their POS systems to EMV®-compatible.

Hodes says, “Over the past decade, EMV® chip-enabled cards have become the new global standard, replacing magnetic strip cards, to combat card theft and fraud and provide more secure transactions. The U.S. market, however, has been slower to adopt the standard of payment. Incidentally, many merchants have been reluctant to install EMV® compliant POS systems because many EMV® cards are backwards-compatible, allowing transactions to be processed via magnetic-strip readers. But many major card providers in the U.S. have already begun rolling out EMV® cards to card holders, and it’s likely that you’ll see customers paying with EMV® cards with great frequency in the years to come.”

Read the whole article HERE