EMV

EMV Compliance

Accepting Chip Card Payments is a New Necessity

What it Means

EMV® stands for Europay, MasterCard ®and Visa®, the three Card Associations responsible for banding together to combat credit card fraud on a global level.  Together, these companies spearheaded the move from magnetic “swipe” payment cards to those embedded with a secure microchip.  This technology:

  • Stores credit card data on a secure chip

  • Assigns a unique value to each transaction for maximum protection from fraud

  • Makes it virtually impossible to copy or steal credit card data

  • Allows for the card to be accepted securely across the globe

  • May require the use of a PIN to further reduce fraud due to lost or stolen cards

Why it Matters

EMV implementation brings with it a huge shift in accountability and liability.  Since October 2015, your practice or enterprise is liable for the cost of fraud on transactions using a chip card but not processed on an EMV-capable terminal.  As long as you are compliant with EMV regulations, you won’t be liable for these transactions.

What We Can Do

Rectangle Health offers a wealth of EMV solutions that are easily integrated with your software.  You will benefit from:

What You Should Do

Healthcare practices that have not yet transitioned to EMV card acceptance should consider doing so immediately to protect themselves and their patients. This typically requires a software update and the installation of an EMV-capable terminal that can handle chip cards. Rectangle Health is ready to assist you in the transition process.

Rectangle Health Guarantee

If you don’t see a dramatic reduction in accounts receivable balance after a few months of instituting our full program, we’ll take the entire system back at no charge to you.
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