This comes in light of the US government’s recent warnings about POS malware and advice from the Department of Homeland Security on implementing EMV-enabled PIN entry devices that have Secure Reading and Exchange of Data (SRED) capabilities.
According to Visa, MasterCard, and AMEX, merchants who have invested in EMV deployment, such as Bindo’s solution, will be protected from financial liability for card-present fraud, under the new rules that will come into effect by 2015. Merchants who do not meet this standard by October 2015 will be liable for fraudulent purchases during card-present transactions, a factor that will drive store owners to adopt the new standards as soon as possible.
This reflects a shift from magnetic-stripe credit cards, to chip-and-signature or chip- and-pin cards, which are less vulnerable to credit card fraud.
Bindo is a retail platform that brings local stores online, index inventory and facilitates sales via POS integration. Bindo processes all online/offline transactions and geocodes sales analytics.
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