The magnetic stripe on the current credit cards are extremely susceptible to fraud where as the new technology with EMV and NFC Payments provides extra levels of security that the current credit cards in circulation cannot.
Everything has worked fine up until now, why the change!? Convenience is one of the answers but security overall is the driving force behind this monumental transition. It’s easy to find ourselves stuck in our ways and the resistance to a new technology is a lot easier than learning the new technology. iPhone 6 users have the Apple Pay feature now on their devices and Android users with compatible smartphones have the option to use Google Wallet.Īdopting these new technologies is often tough for small business owners. That’s right, you can pay for gas, food, beer, or just about anything you want using your phone in place of your credit card.
The payment industry is currently undergoing the transition to EMV and smartphones, and even smart watches, now come equipped with the ability to complete NFC Payments.
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