Come October 1, 2015 there will be a big change in credit card processing. On this date, new credit card standards called EMV will take effect. This switch is an effort by major credit card companies to battle fraudulent charges. The system is already widely used in Europe and it’s now coming to the US where half the world’s credit card fraud happens. The EMV system couples an updated POS system with credit cards that contain microchips instead of the standard magnetic strip we’re used to.

What this means for retailers is that as of October 2015, if a fraudulent charge occurs at your food truck (on a credit card with a microchip) through your swipe and sign POS system, you are going to be held liable for those charges. And yes,  the entire ticket amount!

Food On A Truck is a food truck POS system. We have designed the software specifically with your business needs in mind. This includes protection from credit card fraud. We’ve planned ahead and made sure that our food truck POS system will be able to handle EMV charges so you can focus on food service.

What is EMV?Food Truck

EMV stands for Europay, Mastercard, and Visa. It references the three companies that began the change in technology to better protect consumers and credit card companies from fraud.

It’s not entirely new technology, the EMV system is already being used in over 80 countries. It’s taken longer to hit the US because of the complexity of the American market. Credit cards with microchips have been around since 2002, you may even have one yourself.

What does it mean for my food truck?

It means that you should update your food truck’s POS system to one that is EMV compliant to avoid taking on the liability of fraudulent charges. Food On A Truck is safe, secure, and already capable of handling EMV transactions. We’ve gone out of our way to make sure that we offer our users the best possible food truck POS experience possible.

Food On A Truck’s POS hardware will be able to accept credit cards with a microchip that don’t require a swipe of a magnetic strip. Customers with these credit cards may have the option (depending on their bank) of attaching a PIN to their card for an additional layer of protection. Food On A Truck’s EMV-enabled POS system will actually read the chip on the card and make sure that it’s valid. It’s an incredibly secure way for your customers to spend money.

How will Food On A Truck protect me?

Food On A Truck is ready and able to handle all EMV transactions. FOAT will:

  • reduce skimming during transactions at your food truck
  • allow your truck’s customers to use a PIN
  • will detect and prevent use of counterfeit, lost, or stolen card

Ultimately, the FOAT system is better for you and your customers: they won’t have to worry about their lost or stolen card being used at an unprotected business and you don’t have to worry about assuming liability for fraudulent transactions. It’s win/win.

credit cardsWhat should I tell my customers?

When you’ve switched your food truck’s POS system to Food On A Truck’s app, you can let your customers know that their information is safe. Clover’s system offers a higher level of security than the consumer grade hardware used by other frequently used food truck POS systems like Square.

We know changes like this can be jarring and worrisome for small businesses, but we’re here to help. If you have more questions about how Food On A Truck can help keep your business assets protected, get in touch with us or Tweet at us – we’re happy to help.

Get on Food On A Truck’s email list to be notified about details of our October launch and ensure that your food truck is protected when the EMV switch occurs.