BOWIE, Md. (May 28, 2015) — The Tire Industry Association (TIA) and HotRod Processing, TIA's preferred provider of credit card processing, will conduct a free webinar on chip-embedded credit cards on June 2.
The webinar, “Credit Card Processing and Preparing for EMV,” is geared to tire dealers who want to learn more about EMV — a global payment system that entails putting a microprocessor chip into debit and credit cards to make them less vulnerable to fraud. — and how HotRod Processing can save them money with its credit card processing system, TIA said.
EMV was developed in Europe by Europay, MasterCard and Visa (hence, EMV) with the cards' magnetic stripe replaced by an embedded chip. The technology is scheduled to be instituted in the U.S. by year-end.
EMV will require significant equipment upgrades, according to TIA. Although the technology is not a mandate, the trade group said, retailers that don't have EMV-compliant credit card terminals by Oct. 1 face a potential liability shift for counterfeit, lost and stolen card fraud.
The webinar is open to all TIA members and prospective members, TIA said. It will start at 2 p.m. EDT on June 2.
Bethlehem, Pa.-based HotRod Processing describes itself as a credit card processing firm focused on the automotive and racing industries.