Did you know that the average Chargeback due to fraudulent credit card presentment at a Canadian hotel is valued at over $600?
Those hotels that are still accepting payments via mag -swipe (non-EMV Chip & Pin manner) have:
- Zero protection against fraudulent claimed chargebacks
- And can expect to lose thousands $ in unnecessary losses each year
Henceforth, the impact of chargeback losses due to credit card fraud can increase your overall credit card processing costs by up to 0.10% over what you are paying today.
Moreover, if a Canadian merchant processes a Canadian Visa or Mastercard equipped with chip functionality in a “Non-EMV Chip & Pin” manner, the merchant is 100% responsible if the credit card turns out to be fraudulent. No matter which payments platform or payments services are being used.
So, why continue taking the risk?
Let National Payments help you migrate to EMV chip & Pin.