Through an existing partnership with two major banks, Instabill can now offer EMV credit card point-of-sale devices for mobile POS merchants. Merchants who earn approvals with Instabill, and who have an account with POS technology provider CardFlight, can take advantage of this new offering via two of Instabill’s domestic banking partners.
How Instabill’s Mobile EMV POS Solution Works
For merchants to take advantage of Instabill’s mobile EMV POS solution, they need two things:
- A domestic merchant account approval from Instabill.
- A personal account with Cardflight, the provider of the mobile POS hardware.
Upon an approval of a merchant account, one of Instabill’s domestic banking partners will integrate the merchant account with Cardflight, enabling EMV credit card transactions.
“This offering is crucial to merchants who want to process transactions from EMV credit cards,” said Wendy Jacques, Sales Manager at Instabill. “We are hopeful that this will bring us more point of sale merchants interested in partnering with us.”
The 2 Big Advantages for Merchants
There are two huge advantages with our new mobile EMV POS solution:
- It brings new meaning to the term ‘mobile:’ Instabill’s solution enables merchants to safely process credit card transactions from anywhere – home, a flea market, bazaar or an exhibition.
- Merchants can enjoy the security of an EMV credit card transaction: EMV chip-enabled credit cards are gradually replacing their less secure magnetic stripe counterparts over the next few years. Consumer use is expected to grow exponentially.
How Does EMV Work?
EMV, which stands for EuroCard, MasterCard and Visa, is method of payment that involves a microchip that holds and secures payment information relevant to a single transaction. EMV credit cards significantly lessen the risk of the use of counterfeit credit cards.
On Oct. 1, 2015, the EMV liability shift went into effect which required all POS merchants to acquire POS hardware to accept the more secure EMV credit cards. Not all merchants have been compliant thus far, but EMV is the direction the U.S. payments landscape is headed.
Speak with a live merchant account manager at Instabill by calling 1-800-318-2713 or by clicking the live chat option below.