Has Your Hotel’s Credit Card Processor Recently Declined to Reverse a Charge Back?
On October 15, 2015, the world of credit card processing for hotels was changed forever. This was the date when responsibility for fraudulent charges shifted from credit card companies to the merchants who do not have EMV. For hoteliers, this shift could be catastrophic – unless you invest in the right software credit card payment systems like Skyware Payment Systems in association with Skyware Property Management Software. According to Michael James at the Carousel Group “Implementation of the Skyware Payment Systems EMV technology not only makes me sleep better at night but also saves me money in transaction fees”.
What is an EMV Device?
EMV (Europay Mastercard and Visa) is a worldwide payment system where a customer inserts a debit or credit card issued with an embedded microprocessor chip into an EMV reader. This payment system makes it less vulnerable for fraudulent transactions. According to EMV in the U.S. (2020 update), fraud losses decreased 87% in March 2019 compared to September 2015 before the U.S. shift to EMV cards.
Fraudulent purchases are almost impossible to accomplish on EMV cards because it is extremely difficult to counterfeit the microchip inside. However, 25% of merchants in the United States are still using the older magnetic stripe technology and are exposed to fraudulent activity. This technology exposes information the card holds to any card scanner, bad actors can easily obtain that data and create fake credit or debit cards and use them fraudulently at merchant establishments where the older technology is in use.
How Does This Affect Your Hotel or Resort Management System?
The bottom line is failure to utilize EMV devices exposes your hotel to:
- Potential charge back incidents from fraudulent activity.
- Higher interchange rates.
- Potential data theft.
In these instances your hotel and property management systems can cost you additional fees and substantial losses. Travelers tend to rack up substantial hotel charges creating potential large financial exposures for hotels. A hotel often has multiple areas for payment terminals including the front desk, restaurants, gift shops, spas, and other locations making multiple access points.
What is Skyware Payment Systems?
Skyware Payment Systems is an all in one program that installs an accredited EMV technology payment system directly integrated into a comprehensive Property Management System. Skyware Payment System takes advantage of the best performers in the credit card industry to provide a seamless, reliable and easy to use solution without the exposure to chargeback losses and fraudulent activity.
The key benefits of using Skyware Payment Systems are:
- Hotel Property Management Software integration.
- State-of-the art EMV devices.
- Single vendor provider from deployment to support.
- Easy to use plug and play technology with minimal training required.
- Less expensive transaction fees.
- Reduced charge backs.
- Better interchange rates.
Whether you have a large hotel in Mid-town Manhattan or a small resort in a desired beach location your Property Management System and your Payment System should work together to provide you a simple, easy-to-use technology that eliminates your exposure to fraudulent activity and reduces your transaction fees. Skyware Payment Systems is designed to do just that. Hotels regularly choose Skyware because of its leading-edge technology and unparalleled customer service. Please contact us today at 877 759-9329 extension 350 if you are interested in learning more about our technology.