There are too many different credit card processing companies out there, each offering different kinds of the same service to the customer. You know that there are lots of fees related to their services, and one of the fees they take from you is for "EMV non – compliance fees". The fee is kind of self-explanatory; some fees are taken from you for not being compliant with the EMV policy. EMV is a chip technology and named after the developer companies (Europay, Mastercard& visa). This specific technology is a kind of global standard for credit and debit card payments. This technology is embedded to increase the security of fund transfers.
For the time being, card processors might prefer applying a fee to the customer who doesn't have any EMV capable credit card machines, or in other words, the fee is applied for those who are not being compliant with the EMV procedure. Those who don't have the EMV capable credit card machines has to pay monthly fees to the processor company. But the important thing many of us don’t know is that this particular fee is not mandatory and you actually don’t have to use the EMV technology.There’s no specific rules or regulation mentioned about it. This is some kind of extra fee they are laying on you just for not buying their EMV credit card machines from them. These companies are using the excuse for not using EMV machine just to take extra money from you. This is certain that the EMV technology actually makes things safer for a merchant, but the question arises when many companies like Heartland payment systems mentions that $299 is the charge for non-EMV compliant customers. This fee is actually more than the price of an EMV machine itself, so this high fee does not make any sense.
Such companies are doing this to ensure their higher profit margin, and this is for sure. Why don't the payment processor companies supply the merchant free EMV machines if they are so concerned about the safer transaction? I believe this is a perfect example of poor consumer service and customer exploitation. How can the customer still stick with them and their policies? It is time to change this forever.
Things are done differently at the Host Merchant Services, they are not profiting hungry like other companies. Their goal is customer satisfaction, not customer exploitation. Companies like them are definitely not going to charge you for an EMV compliance fee. When a merchant set up an account, they ensure that they are getting the EMV capable terminals, which is an obvious part of their complementary protection kit. Handling the PCI compliance for free is also one of our jobs.
The basis of their business model is to deliver high-level customer satisfaction. And as a part of our belief, they don’t charge any agreements & cancellation fees. All of the customers stick with them because they want to, it is not that the companies are forcing them to do that or whatsoever. Their customers are fully happy and satisfied with their service.
