credit card readers

[Dakotagrafx 7,297]

this is gong to hurt the small timers who take credit cards with card readers intermittently 

149 up front and then you can get up to $100 rebate on $3,000 of charges over a 3 month period - so in my case it is seldom used and would be $149 period - ouch

https://www.paypal.com/us/webapps/mpp/emv

[Dakotagrafx 7,297]

just got info from John the square version is only $49 total  - maybe a switch back to square in the future.  even at that it is a seldom used thing for me so marginally worth it

https://squareup.com/contactless-chip-reader

[MadHatterGraphix 1,258]

That is ridiculous that Paypal is charging that much for the reader when Square is so much cheaper Well time to change unless Paypal wakes up.

[jaybyrd 3,770]

Already preordered mine from square. Been with them a couple years now and no complaints.

[mark-s 1,126]

c.o.d. is the only way I roll

 

mark-s

[jaybyrd 3,770]

c.o.d. is the only way I roll

 

mark-s

Wish I could. Damn IRS and the paper trail that cards create.

[Wildgoose 4,200]

I use Square. Works good. 

[Dakotagrafx 7,297]

I use Square. Works good. 

ahhh - but oct 1 all the cards will have the chips - the mag strips are on the way out.  if you don't use the chip reader the liablity increases after oct 1 to from what I read 

[Wildgoose 4,200]

I guess I should read my emails from those guys. Why do they always feel the need to dip into corporate funds.

[MadHatterGraphix 1,258]

ahhh - but oct 1 all the cards will have the chips - the mag strips are on the way out.  if you don't use the chip reader the liablity increases after oct 1 to from what I read 

You are right sir

[Wildgoose 4,200]

I just went and read up too. Funny thing is they still send you a regular swipe tool with the new reader. I couldn't tell if they are going to charge you the higher rate like when you take one without swiping or not or if they are just going to drop the liability in your (our) lap. 

[OWJones 1,981]

ahhh - but oct 1 all the cards will have the chips - the mag strips are on the way out.  if you don't use the chip reader the liablity increases after oct 1 to from what I read 

 

I thought it was all new cards AFTER Oct 1st will have the chip, but existing cards are still good until they expire - some of which go until 2018 or later.   Most cards with chips will also have magnetic stripes for the time being.

My sister already got a new card with chip, but most local stores are slow to update around here and she's still having to swipe it like a normal card in most places - WalMart is the only retailer I can think of that has upgraded their POS systems to handle the new cards.

[Dakotagrafx 7,297]

All U.S. stores are required to have new machines by October to avoid fraud costs. There's incentive for shop-owners: card companies will start holding shops liable for credit card fraud if they don't upgrade their card readers. (Today, if a fraudster uses a stolen credit card at a store, the bank usually pays for the fraud).

[Dakotagrafx 7,297]

5. What is this October deadline that I'm hearing about the news? 

Beginning Oct. 1, merchants who have not updated point-of-sale devices to recognize chips will be held liable if there is fraud at the register in the store if the bank has issued cards with chips. Whoever has the older technology is liable for fraud. If both the bank and the retailer have updated their technology, the liability falls back to the bank.

Right now, the bank assumes that liability.

[jaybyrd 3,770]

Funny thing is when I worked at the junkyard on at least 2 occasions somebody bought an engine with what later turned out to be a stolen card and we were not covered. They did a charge back against the ban account linked to the card processor both times.

[Wildgoose 4,200]

From what I gather the cards will/do still have the magnetic swipe but like dakota mentioned older style swipe means we are responsible for the fraud issues which is going to mean we are the ones getting ripped off evidently since they will be paying US with the fraudulent card. I know when you accept payment over the phone without an in-person sale they charge more for the sale, more around the 4% range if I remember. I am just wondering if they will go that route for regular swipes. I would rather shoulder the fraud potential than pay the extra percentage. Every single one of my credit card customers are rock solid repeat people. The rest all pay in cash or check.