News from the Wire

MagicPay launches free EMV equipment program upgrade

Monday, April 21, 2014 — 11:08:55 (EDT)

Boca Raton, Fla., April 20, 2014 -- As the United States credit card industry is turning towards EMV enabled (Europay, MasterCard and Visa) cards, merchants will have to upgrade their terminals in order to be able to process retail payments. While most merchants currently still use MSR credit card processing equipment, MagicPay Merchant Services, a South Florida-based company, is now offering EMV equipment for free to its merchants. The offer will make it convenient and priceless for current and new merchants to upgrade to the new EMV chip technology.

The merchant services industry is being evolved every day with new technology, regulations, and security measures in order to protect card holders and decrease fraud. While countries like Canada has adopted EMV technology long ago, the United States is still behind and plans officially to launch EMV as a requirement for all merchants (except fuel dispensers) by October, 2015.

In October of 2015, the liability will shift to acquirers for domestic and international retail transactions’ fraud if the merchant does not have EMV enabled payment processing device. This is why merchant services providers will be asked to use EMV enabled equipment in order to reduce liability.

Retail merchants pursuing EMV compatible equipment can now utilize EMV enabled credit card processing equipment by using MagicPay’s merchant account services. The company offers a free placement program in which merchants receive a credit card terminal as part of the merchant account program.

MagicPay’s ongoing efforts to make it convenient and affordable for businesses to process electronic payments has hit headlines numerous times in the past after it offered an iPad placement program and when it launched the hard-to-board merchant account program that allows high risk industries to get a merchant account domestically easily, quickly with affordable and reliable domestic and international service.

“The plan encourages current and new merchants to comply with EMV regulation at no out of pocket expense,” says Rami Levi, a sales manager at MagicPay. “We’ve always believed merchants should not be spending money on processing equipment, and just like we have provided equipment in the past, we are doing the same for EMV compatible payment processing terminals.”

The South Florida-based merchant services company, MagicPay, has become well known for its ongoing merchant offers. On the beginning of April 2014, management has introduced its EMV enabled equipment placement program in order to help merchants upgrade to safer payment processing equipment that would help prevent fraud. Under the program, current and new merchants are eligible for the equipment placement from the provider, allowing them to process EMV payments at no extra out-of-pocket expense. For more information, please visit MagicPay Merchant Services official website at www.MagicPay.net.

About MagicPay Merchant Services

MagicPay was formed at the beginning of 2012 to be a full-service merchant account provider with a special focus on mobile payments. Although mobile payment merchant services did exist, MagicPay was created to expand the mobile payments market and take things to a whole new level by offering off-line processing, inventory options, and lower processing costs. The company’s overall goal is to not only provide the best possible credit card processing to its clients, but to continue to explore new and better methods for providing merchant services on smart phones and tablets.

MagicPay is dedicated to providing its clients with the best possible service, and has expanded its service options into such areas as e-commerce and MOTO accounts as well as retail merchant accounts. As the company grows rapidly, it continues to attract merchants by offering unique services and features such as their marketing software that allows merchants to create coupons and rewards programs for clients.

With the introduction of such innovations as Eco-statements, the EPN and credit card processing solutions for collection agencies, Magic pay hopes to continue and grow as an industry leader with the highest level of service and environmental integrity.

To learn more about MagicPay, please visit their website at: www.magicpay.net .

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Source: Company press release.