Spokane, WA -- (SBWIRE) -- 04/21/2015 -- Electronic Transfer, Inc. is now offering a new EMV Chip Credit Card Terminal or Pin Pad to new merchants who sign up by May 4, 2015. The EMV Chip Card Credit Card Terminal supports Apple Pay, Pin Debit and the new Android Softcard payments.

EMV chip card transactions improve security against fraud compared to magnetic stripe card transactions that rely on the holder's signature and visual inspection of the card to check for features such as hologram. The use of a PIN and cryptographic algorithms such as Triple-DES, RSA and SHA provide authentication of the card to the processing terminal and the card issuer's host system. The processing time is comparable to online transactions, in which communications delay accounts for the majority of the time, while cryptographic operations take comparatively little time. The supposed increased protection from fraud has allowed banks and credit card issuers to push through a 'liability shift' such that merchants are now liable (as from 1 January 2005 in the EU region) for any fraud that results from transactions on systems that are not EMV capable."

Electronic Transfer Inc. offers full-service credit card processing for all types of merchants, providing the lowest available rates to all businesses equally. Merchants receive their rates based on credit card processing volume, and not on the products they sell.

On October 1, 2015, the card brands are implementing chargeback rule changes. Currently, when a counterfeit card is accepted by a merchant, the card issuer is responsible for the fraud loss. On October 1, 2015, the card-present counterfeit card liability will shift to the merchant if a chip card is presented but the point-of-sale system is not enabled to read the chip. This is NOT a compliance mandate; instead, accepting chip card transactions will limit a merchant's future chargeback exposure for certain types of card-present chargebacks.

Because of the liability shift everyone will need to have an EMV capable system and the processing Banks (acquirers) will strictly enforce this. Issuing Banks can still issue the old fashioned "Non-Chip" cards as long as they assume the fraud risk and merchants will still be able to process the old cards until 2017. However, most processing companies will access a surcharge on these cards and some will even change a hefty "Non-Compliance Fee" for using a non EMV Certified credit card terminal.

Electronic Transfer, Inc. is a A+ Better Business Bureau Member

23 Year Old Credit Card Processing Company offering businesses a merchant account and the ability to accept credit cards.

They specialize in Internet Merchant Accounts, Internet Credit Card Processing Terminals, and ACH/Check payment processing services.

About ETI
ETI also offers a full range of payment systems including Card-Swipe Terminals, Receipt Printers, Wireless Credit Card Terminals, Cell Phone Payment Systems, and POS Systems. ETI also owns its own secure Payment Gateway called http://www.FastCharge.com

For more information, visit ETI's web site at http://www.elctronictransfer.com or call 800-757-5453

Electronic Transfer, Inc.
3107 E. Mission
Spokane, WA 99202

Contact: Mike Knudtson
Title: President
Phone: 800-757-5453
email: mike@electronictransfer.com