The card payment method with chip technology is now widely used because it is secure and convenient for all parties involved in the transaction. What does it offer?

Security

  • Cards with chips are more difficult to clone, thus reducing fraud.

  • Using a PIN (Personal Identification Number) offers an additional security feature for lost or stolen cards.

  • Replacing cash with cards with chips reduces the risks entailed in handling and storing cash.

  • Cards with chips reduce the risk of making mistakes and losing money, as they eliminate the need for paper reconciliations. Furthermore, each transaction leaves a digital footprint called a ‘cryptogram’ which can be a useful tool for validating them.

Agility

  • Customer service becomes faster and more convenient, resulting in satisfied customers, thus increasing their numbers.

  • Sometimes, cards with chips do not require additional authorisation, so the speed of the service increases.

  • When the chip is combined with a PIN, it is not always necessary to sign the sales receipt. The till opens less often, reducing the work.

  • Chips allow you to offer customers a self-service option, to pay for their products without needing to wait.

This technology benefits the business by offering greater security and more agile processing of transactions with customers, especially when combined with PIN authentication, as well as reducing fraud.

At Vector ITC Group we have three different models of card readers for your business:

  • ISC350: integrated card reader (chip, stripe and contactless), capacitive signature capture, biometrics, video playback, USB 2.0, RS232 and Ethernet connectivity.

  • MX880: external card reader (chip, stripe and contactless), capacitive signature capture, biometrics, video playback, USB 2.0, RS232 and Ethernet connectivity.

  • ISC480: integrated or external card reader (chip, stripe and contactless), capture of 1 million signatures, biometrics, video playback, USB 2.0, RS232 and Ethernet connectivity