Study Reveals Reasons Why Small Businesses Are Undecided About EMV

A recent study from American Express reveals that fraud protection is top of mind for small-business owners. Of those surveyed, 67 percent indicated that preventing fraud was very important to running their businesses. However, more than a third reported that they either won’t upgrade their payments terminals to accept EMV (a more secure way to pay) or are undecided on the matter.

The reason? Cost. And understandably so — the EMV readers out there now are incredibly expensive. In the survey, 52 percent reported that they feel at a higher risk for fraud than larger businesses, due in part to the high cost of secure solutions.

All independent business owners should have access to secure payments solutions — just like the big guys. That’s why Square is offering the most affordable, compact, and easy-to-set-up EMV readers on the market. We want to make sure that you can safely and securely accept payments from anyone who walks through your door now and in the future.

We’re also here to arm you with knowledge. We’ll keep you current with all the information you need about the switch to EMV on Town Square, our business resource center. And if you have any specific questions about the switch to EMV and what it means for your business, always feel free to ask us on Twitter.

Want more information about EMV? Learn more here and check out our past articles on the subject:

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The Bottom Line is brought to you by a global team of collaborators who believe that anyone should be able to participate and thrive in the economy.


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