In the wake of numerous large-scale data breaches and increasing rates of counterfeit card fraud, U.S. credit card issuers decided they would no longer accept liability for credit card fraud from companies that didn’t use chip-and-pin (EMV) technology.
The EMV (Europay, MasterCard, and Visa) standard provides significant better security for credit cards.
An October 1, 2015 deadline was created by major U.S. credit card issuers MasterCard, Visa, Discover and American Express wherein liability for card-present fraud will shift to whichever party is the least EMV-compliant in the fraud transaction.
Many merchants were caught unaware and began scrambling to replace their old credit card technology. The nationwide shift to EMV is now well underway!
While EMV technology will not prevent data breaches from occurring, it will make it much harder for criminals to successfully profit from what they steal.
But, the change-over requires a new type of terminal at the register that will recognize chip-and-pin in order to be able to process credit transactions. An expensive proposition but cheaper than being on the hook for credit card fraud.
As a retailer, you know that upgrading your credit card systems is an absolute necessity. But, what do you do with your old point-of-sale credit processing technology? The first thought is to just toss them into the dumpster, especially as terminals and even electronic registers tend to be small-sized.
But what most retailers don’t realize is that there is often a wealth of data that remains in those terminals and registers. Not properly disposing of them as e-Waste may not only compromise data security, it may cause you to be breaking the law!
So what’s the easiest way to dispose of those old credit card terminals? By far, the easiest way is to just contact e-Waste recycler Southeastern Data.
Southeastern Data Solutions responsibly recycles end-of-life credit card processing equipment, offering:
An easy and simple pick up process
Compliant and responsible recycling of retired credit card terminals
Complete regulatory documentation including Certificate of Recycling
Responsible e-Waste disposal of old credit card processing technology is not only compliant with the law and an environmentally friendly disposal option; it also protects your company's reputation from the potentially devastating consequences of a data breach.