New chip card readers are backwardly compatible, which means they can read chips and traditional credit cards with equal ease. EMV Technology is Not Necessarily Exclusive On the other hand, consumers won’t have to wait for transactions to get processed because of slow internet connectivity. However, it is now useful in remote environments with low connectivity. This was designed to cut down telecommunication costs. Although a consistent network is required to process the payment, credit cards can be authorized at the point of sale and processed at the end of the day or whenever possible. Here is how it works: No Internet Connection RequiredĮMV credit card transactions don’t require a phone or an internet connection. You’ve probably received tons of messages from your bank about the switch to chip technology.
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