Date post: | 19-Aug-2015 |
Category: |
Business |
Upload: | wand-corporation |
View: | 47 times |
Download: | 3 times |
October 1st is Coming…How to Prepare Your Restaurants for the EMV/Liability Shift
#WANDEMV @WANDCorporation
Agenda
#WANDEMV @WANDCorporation
• Introductions• What is the liability shift• Five ways to prepare• Quick tips for success• What’s coming next• Recap• Q&A
FOCUS100% focus on
QSR/Fast Casual Restaurants
TECHNOLOGYHistory of
unbeatable restaurant innovation
SERVICEEndless quest to
deliver total customer
satisfaction
The WAND Difference
#WANDEMV @WANDCorporation
Introductions
#WANDEMV @WANDCorporation
Bill ChesneyVP of Sales and Marketing
30 Years a Sales NinjaFavorite Food: Grilled Salmon
Chuck GehmanVP of Product Management
19 Years a Tech FanaticFavorite Food: Porterhouse
Nate HubertSenior Product Manager12 Years a Security Guru
Favorite Food: Sushi
What Is the Liability Shift?
#WANDEMV @WANDCorporation
#WANDEMV @WANDCorporation
Liability Shift
• Shift liability from credit card company to the merchant • 110 million known account breaches in 2014• More than half of consumers blame merchant
Sources: 2014 Ponemon Institute Research Findings. 2014 YouGov.com Credit Card Survey Results.
#WANDEMV @WANDCorporation
EMV Chip and PIN Cards
• Europay, Mastercard, Visa• Swipe versus dip• Embedded computer chip• PIN number • Chip and signature also included
#WANDEMV @WANDCorporation
Potential Liabilities
• Cost of a breach = $174 per record, $5.5 million average• Lost customers/revenue• Damaged reputation (big brands still recovering from 2014)
Sources: 2015 Ponemon Cost of Data Breach Study.
#WANDEMV @WANDCorporation
Why add EMV readers?
• Decrease liability • Avoid lost sales• Meet customer expectations • Be less attractive to hackers
Bonus Benefit:• Ability to accept contactless
payments (Apple Pay, Google Wallet)
Source: Chip Cards Consumer Attitudes Report. MasterCard.. May 2015.
#WANDEMV @WANDCorporation
Recap – What is the Liability Shift?
1. Liability shift October 1st
2. More secure EMV Chip and PIN cards3. Increased potential liabilities 4. Get EMV readers in place now
Five Ways to Prepare
#WANDEMV @WANDCorporation
#WANDEMV @WANDCorporation
1. Use EMV Terminals to Enhance Security
Five Ways to Prepare
#WANDEMV @WANDCorporation
2. Use terminals that encrypt credit card data.
2. Use Terminals that Support Encryption
Five Ways to Prepare
#WANDEMV @WANDCorporation
3. Use terminals that support NFC technology for contactless payments.
3. Use Terminals that Support NFC Technology
Five Ways to Prepare
#WANDEMV @WANDCorporation
4. Comply with Payment Card Industry Data Security Standard (PCI DSS).
4. Comply with PA-DSS
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5. Consult with your POS Provider
#WANDEMV @WANDCorporation
Recap – 5 Ways to Prepare
1. Use EMV terminals2. Use terminals that support encryption3. Use NFC technology4. Comply with PA-DSS5. Consult with your POS provider
Quick Tips forSuccess
#WANDEMV @WANDCorporation
Quick Tips for Success
#WANDEMV @WANDCorporation
View this as an opportunity to improve security and operations.
Be proactive and not reactive.
Customers are super excited for this – turn it into a win!
Drive traffic from key early adopters (i.e. Millennials)
Designate a champion on your team.
What’s Coming Next
#WANDEMV @WANDCorporation
#WANDEMV @WANDCorporation
Payment Landscape will Keep Changing
• Continuing adoption of contactless payments• More chip cards being distributed • More high-profile breaches• Equipment providers, POS providers and processors working together• Better and safer payment solution
#WANDEMV @WANDCorporation
What You Should Do Next
• Don’t rush out and buy EMV terminals • Engage with your POS provider • WAND’s new payment products
Recap
#WANDEMV @WANDCorporation
#WANDEMV @WANDCorporation
Recap
• Potential liability• Customers want new tech• Be proactive • Turn this into a win
Q&A
#WANDEMV @WANDCorporation
Contact Us
#WANDEMV @WANDCorporation
Bill ChesneyVP of Sales and Marketing
Favorite Superhero: [email protected]
Chuck GehmanVP of Product ManagementFavorite Superhero: Batman
Nate HubertSenior Product Manager
Favorite Superhero: [email protected]