It has been brought to our attention that some of you may have received calls from an out-of-state credit card processing provider claiming that your processing equipment is out-of-date and that you must upgrade your equipment now. It is part of a “Free Terminal Scam” that has been targeting business owners.
The company does not immediately disclose who they are and you may think you are speaking with someone from your current credit card processing provider – you are not. You will be asked to sign paperwork to receive a “free” terminal, however, you are actually signing up for a merchant account with setup costs and other undisclosed fees.
You DO NOT need to update your equipment to become compatible with the new EMV (chip-based) technology until October of 2015. To learn more about the EMV push in the United States and what you can expect, please click here to read our recent blog article.
We always encourage merchants to do business locally with trusted, reputable companies. If you have concerns or questions, please do not hesitate to call our office at (402) 206.2233 or email us at [email protected]. To learn more about CHIPD, please visit www.chipdpay.com.