As the U.S. prepares to meet the EMV liability shift deadline, MagicPay Merchant Services—a payments company based in Florida—announced it will offer free EMV equipment to its merchants.
The push for migration to EMV—the Europay, MasterCard and Visa standard widely adopted in Canada and other countries—has gained momentum in recent years, though the U.S. has not completely adopted the technology.
In October 2015, the liability for fraudulent transactions will shift to acquirers for domestic and international retail transactions if the merchant does not use EMV-enabled payment processing equipment.
MagicPay’s offering seeks to make the EMV shift easier for merchants on its network. As part of the company’s free placement program, merchants receive an EMV compatible payment processing terminal.
“The plan encourages current and new merchants to comply with EMV regulation at no out of pocket expense,” Rami Levi, a sales manager at MagicPay, said. “We’ve always believed merchants should not be spending money on processing equipment, and just like we have provided equipment in the past, we are doing the same for EMV compatible payment processing terminals.”
MagicPay, which was established in 2012, is a full-service merchant account provider with a focus on mobile payments. The company’s mission is to innovate in credit card processing solutions for its clients and to expand the mobile payments market.