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POS Systems for Retail and the New EMV Card: What You Need to Know


How POS Systems for Retail and the New EMV Cards Will Work Together

Have you heard about the massive change that will affect POS systems for retail stores? Whether you’re ready or not, it’s going to hit the nation October 15th, 2015.


All POS systems for retail will need to have an updated device has to be used to accommodate the EMV “chip” or “smart card.”

A standard-sized bank card that will still have the magnetic stripe, but now will also have a chip that operates as a mini-computer.pos-systems-for-retail-credit-card


pos-systems-for-retail-chipThis mini-computer will validate the authenticity of the card and generate a one-time use security code in every transaction. This makes chip payment data virtually impossible to use for counterfeit card fraud.


Instead of swiping the card through the usual magnetic stripe reader, the card will now get inserted into the slot on the POS systems device. The card remains in the terminal until the transaction is over. A dialog will ensue between the cardholder and the card itself via POS software.

“Chip & Pin” transaction

Requires that a PIN be entered, even for a credit card.

“Chip & Signature” transaction

Requires the traditional signature on the receipt.


Some cards will require neither a PIN nor a signature. The rules may vary depending on the card issuer, purchase amount, or other factors.



Transactions can be authorized either offline or online.


Payment Approval

After payment has been approved through your POS systems for retail, information is written onto the card as the receipt is printed.



The transaction is over when the chip has been updated with the transaction info and the card is ejected from the POS reader slot.