MasterCard Changes & EMV (Chip Card) Regulations

Dear Valued Future POS Customer,

In case you were not aware, MasterCard has begun issuing two new series of card numbers which will impact your ability to accept these new cards through your POS system.  Historically, all MasterCard account numbers have begun with the number 5.  This is changing and those changes are already in play.  What does this mean to you as a merchant accepting MasterCard as a form of payment?  In a very short time you will have a customer that presents a MasterCard for payment and it will be declined by the processor because the pos software in unable to decipher the validity of the card.  What can you do to remedy?  Call our help desk, at 330-645-6623 and request a remote desktop technician to access your pos system to validate your version of software.  New versions for both the 5.0 platform and the newly released 6.0 platform have patches built in to accept these newly issued cards.  For more information regarding the expansion of the MasterCard BIN (Bank Identification Numbers) ranges, go to the following secure weblink:
https://www.mastercard.us/en-us/issuers/get-support/2-series-bin-expansion.html
The other change you should be implementing in your establishment is accepting EMV chip cards (Europay MasterCard Visa).  These credit cards have been in distribution for several years now and we are seeing a spike in the number of sites accepting these cards through their POS system.  Future POS has been ahead of this curve and is ready when you are to add this to your system.  You have several risks by not implementing this technology.  First, are the imminent charge backs that will be assessed to you by your processor.  If you swipe a card for payment rather than dip (insert a chip card into a chip reader) and the card holder claims the transaction as fraudulent, you will lose the chargeback.  We have heard numerous stories in which the merchant has lost these transactions no matter what data may be there to validate it.  It is as simple as the swipe vs. the dip.  The chip reader will eliminate that possibility for you.  The second, and as important, is the security level an EMV reader will provide.  Not only will you get the secure processing of the EMV chip card, each transaction will be encrypted at the reader.  It is then unencrypted at the processors servers, and a secure encrypted reply is sent back to the POS system with an accept or decline message.  No card data ever passes through the POS system.  This is what is known as “Out of Scope”, which almost entirely eliminates the chance of your site or database ever being breached and your customer’s credit card data made available to hackers.  Why would you not want that peace of mind in your business?  Again, please call our help desk for evaluation and further information to make sure you can still process all cards as well as performing this task securely.