Roswell, GA -- (SBWIRE) -- 02/26/2016 -- Many retailers from all around the globe consider EMV as the Holy Grail which will completely protect them from fraud. Nevertheless, this is far from being true. The truth is, there is actually no way to be completely protected from fraudulent transactions. Unfortunately, criminals will always find a way to deceive the security means retailers provide and use. However, it is worth to stress that EMV is a great step in preventing fraud. For this reason, countless stores and businesses have decided to incorporate EMV in their facilities. However, retailers who use this relatively new system should not lose guard against cyber criminals.
One of the main reasons why EMV was designed was for purpose of controlling the amount of fraudulent transactions. EMV helps to assure a better and safer authentication with credit transactions. Gone are the days in which customers had to pass the magnetic strip of their cards to complete a transaction. Instead, consumers can just insert their credit or debit cards into an EMV terminal and finalize the purchase by inserting their security pin. This revolutionary system includes encrypted data which is embedded into the card to decrease the chances of them being duplicated. This is definitely good news for both customers and retailers, who are afraid of losing a great amount of money due to fraud.
However, it is always important to bear in mind that criminals will always find a way to steal. Sure, they can´t deceive the new EMV systems. That´s exactly why most cyber criminals will move to online transactions. By the time EMV systems are being used in every single store in the world, cyber burglars will have already moved to the internet to continue with their fraudulent transactions. The only thing retailers can do to prevent fraud is to be more aware of online transactions. Nowadays they are the real danger.
With all this in mind, it is safe to say that EMV is a giant step in the race for mobile and online security. Sure, it does not provide full security against fraud but it is a big help for retailers and customers who want to void fraud at all costs.
Businesses which support online transaction should keep an eye on their platforms. Given that it will be harder to commit fraud with EMV, cyber criminals will move to other fields. Online transactions will surely be the house to many fraudulent transactions in the near future.
About Netcom PaySystem
To learn more about Netcom PaySystem payment processing solutions, simply fill out this quick online application to get started and a representative will be in contact within 24-48 hours or for faster service please feel free to contact us at 800-875-6680.
Netcom PaySystem prides itself on being eager to practice good, old-fashioned customer care as it is to pioneer new products. Netcom PaySystem is proud to provide the most up to date and innovative products such as m-Commerce Mobile Solutions, and Virtual Terminal solutions. In addition, the company offers the merchant access to POS Systems, ACH Check Services, Check Guarantee, Recurring Billing, Check21, BOC, Credit and Debit Card Processing, Gift and Loyalty Cards, and Merchant Working Capital. Netcom PaySystem's attrition rate is one of the lowest, if not the lowest in the industry. Netcom PaySystem can proudly boast that that only two to four percent of its clients ever leave the company, and out of that; close to 50 percent return within the first year. For more information, please visit http://netcompaysystem.com.
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Contact Person: Media Relations
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Phone: 800-875-6680
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Website: http://netcompaysystem.com/