My software support ended today with my current CC setup. It will cost me thousands to switch over to cryptopay and new timers. I know it will take a few years but I understand the swipe card will be phased out. Should I spend thousands now and have to turn around in a few years and do it all again?
My predicament with Credit Cards
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Earl Weiss
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Gas stations have 2 more years to comply with pay at the pump so the stripes should be around at least that long. I would expect whatever timers you upgrade to most systems could use those so that part of the investment will not be lost.
robert roman
Bob Roman
Since money follows technology and not the other way around, I would stay with current software support and let it pull you along with trend.
Some of us may remember when the government tried to force the metric system on the US. Looking back to the massive resistance by the public when the government tried to convert the US to metric I would tend to agree with Robert. Since movement to the chip would mainly be driven by financial interests over technology I would look for a rather slow trend to convert everything to the chip. Any resistance by the public to convert as what happened with the metric system will most certainly affect any movement to chip technology.
JustClean
Active member
Just another point to consider:
The magnetic stripe will still be there for a long time, however, if people want to pay with their phone in the future they can't with an old system without NFC.
I am in Australia and I am going through this at the moment with my reader. My current bank is not accepting my reader anymore and cut me off (mag stripe). I had to change the bank. I am looking for a compliant system now. I can't buy anything from the US because it's either outdated or hugely EXPENSIVE. So, it's probably the worst timing to buy new equipment but I'd rather see if I can find a compliant system than throwing money at outdated readers.
The magnetic stripe will still be there for a long time, however, if people want to pay with their phone in the future they can't with an old system without NFC.
I am in Australia and I am going through this at the moment with my reader. My current bank is not accepting my reader anymore and cut me off (mag stripe). I had to change the bank. I am looking for a compliant system now. I can't buy anything from the US because it's either outdated or hugely EXPENSIVE. So, it's probably the worst timing to buy new equipment but I'd rather see if I can find a compliant system than throwing money at outdated readers.
mjwalsh
6 bay SS w/laundromat
JustClean,
Do Aussie Banks still have mag stripes along with the chip on all the debit & credit cards they issue? I am sure it costs a bit more for the banks to maintain both so that is why I am asking the question.
mike walsh www.kingkoin.com
JustClean
Active member
Mag stripes are and will still be around for some time. Yes, as far as I know all the cards in Australia still have the mag stripes plus the Chip & Pin plus most of them NFC.
So, unless it's really cheap I would wait for a NFC reader so customers can pay with their phones eventually.
mjwalsh
6 bay SS w/laundromat
http://www.travelzoo.com/blog/make-sure-credit-card-doesnt-leave-stranded/
The article above points towards growing less acceptance abroad of mag stripe cards on their readers ... since Global Visa etc is calling the shots ... it seems like this will tend to also eventually happen here in the USA. How soon is kind of what is in question. I like this recent article because it encourages prudent carrying of small amounts of cash including less heavy & bulky higher denomination coin vs lower denomination coin ... which can be a plus for us wand style self serves & our vacs etc.
mike walsh www.kingkoin.com
The article above points towards growing less acceptance abroad of mag stripe cards on their readers ... since Global Visa etc is calling the shots ... it seems like this will tend to also eventually happen here in the USA. How soon is kind of what is in question. I like this recent article because it encourages prudent carrying of small amounts of cash including less heavy & bulky higher denomination coin vs lower denomination coin ... which can be a plus for us wand style self serves & our vacs etc.
mike walsh www.kingkoin.com
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Every major retailer here in Florida has already switched over to chip and sign. If you try to swipe with a chip enabled card it won't read it and then prompts you to insert(dip) the chip.
From what I've seen/read visa is saying that any company that doesn't use the chip and pin doesn't care about your security. They are literally shaming us into switching !
From what I've seen/read visa is saying that any company that doesn't use the chip and pin doesn't care about your security. They are literally shaming us into switching !
Greg Pack
Wash Weenie
I got an email from one of my merchant providers that said "don't sweat it"
The cyrtopay system is so economical I don't see a reason to wait.
The cyrtopay system is so economical I don't see a reason to wait.
