(Newswire.net -- May 13, 2014) -- Orlando, FL
Jan Berkowitz Explains EMV Credit Card Attacks
Have you heard that there are new credit card standards about to hit the US market? Many people have been affected recently with the break ins to large companies. The intruders look for and steal valuable credit card data then use it or resell it on the open internet market. This is all due to the type of security the USA uses says Jan Berkowitz, after all Canada has just reported that EMV cuts Credit Card Losses.
The fact is that we in the US use a “magnetic stripe” technology that has been proven over and over around the world to be insecure to many types of credit card attacks. These types of cards have all the data about the owner and bank located right on a magnetic readable strip located on the card. This allows outdoor card readers to be tampered with to steal this data, which is a well known ploy. But there is also the aforementioned company database break in, and then a third type of problem where consumers are directly targeted.
This targeting can happen at a local coffee shop, where there is a wireless connection available to all. Jan Berkowitz explains that the bad guys just use software to scan and intercept any data communication involving credit card transactions. Another very devious way cards have their information read and stolen is a type of card reader, that literally can read the card while in your wallet. This seems pretty amazing says Jan Berkowitz but it happens all the time.
The Solution Jan M Berkowitz Likes
US Banks are reacting to public outcries for help for these problems. Help is on the way. The banks have gotten together and created what they call a mandate. The mandate is agreed upon to have EMV cards and the EMV Point of sale readers (POS) ready by October 2015.
The solution is EMV-enabled cards that are named for the card technology developers Europay, MasterCard and Visa. They have embedded a microprocessor chip that encrypts transaction data for each purchase. This means there is no template being used, and instead a unique transaction record is created and not usable for another transaction even if breached.
Cash Back on Credit Card Processing Fees
A company called Match Rate Plus has offered a solution to the EMV problem. They are offering a large percentage cash back to each and every business that uses their service. With that being said, what is to stop any business from using that information to request a Cash Back from their own credit card processor?
We all know that the liability will shift from the credit card companies to individual businesses, many of which will be small business explains Jan Berkowitz. Match Rate Plus has teamed up with a large credit card processor North American Bank Card. Contact information for Match Rate Plus is Below:
If you are a merchant and you want to pay less for your merchant services AND get money back every month, Go to http://MatchRatePLUS.com/41833 or call this toll free number for more information: 800-518-9776, Then, when you are asked for a promo code, use this one 41833
Here is the Jan Berkowitz Sr original artle " Jan Berkowitz Reports on EMV Credit Cards ".