Re: Profitek POS Solutions and EMV (CHIP and PIN) compliance
Many of you have received letters or calls from your credit card company asking about your Profitek Software version and talking about something called EMV CHIP or CHIP and PIN compliance. Some background information is included for you below as well as some information on what your options are.
From March 31, 2011, Merchants are liable for charge backs on Visa and MasterCard CHIP Cards that have been swiped. All newly issued Visa and MasterCard’s have both CHIP and magnetic stripes. Magnetic stripes on CHIP Visa and MasterCard’s still work. If the card is stolen or counterfeit etc. and you have swiped a CHIP card you will be on the hook for the amount, regardless of whether it is signed with a picture ID.
By 2015, magnetic stripes will no longer be usable in Canada.
Effect on You
You will need to replace their existing PINPads with new ones and update their Profitek software to the CHIP and PIN version. Table service restaurants will probably need to use wireless ”pay at table” devices so that customers do not have to get up and go to the POS terminal to make payments.
Customers on support contracts with Profitek will have access to the new versions as part of their support packages. Customers off support may need to purchase software updates; the cost will vary depending on the size of the system and number of years since installation. Older systems not updated for PA-DSS in 2010 may require some hardware updates in order to function properly with the new software, which requires more computing power. A Profitek Account Representative can provide an estimate of the cost (hardware, software and services) to update a particular system.
Your Options with Profitek
There are different ways of doing CHIP and PIN depending on the Credit Card Processor.
Table service restaurants will like want wireless pay at table devices so that customers don’t have to get up and go to the terminal to make a credit card payment.
Please view the attached download to see the options available. CHIP & PIN