What you need to know about upgrading your cashless card reader to an EMV compliant device. - Vendnet

EMV in Vending

EMV stands for Europay, Mastercard, and Visa - the three titans of cashless payments. They have come together to prescribe standards for cashless transactions using the EMV technology. You may also be aware of the Magstripe technology, where you swipe a magnetic strip at the back of your credit, debit, or other cards. Compared to Magstripe, EMV technology offers better security and hence a safer passage for transactions to its users.

A survey by Visa has confirmed that EMV chip cards have been shown to reduce fraud through counterfeiting by 87% [1]. Cashless transactions using EMV technology doubled between 2020 and 2021 [2]. As more consumers become aware of the security of financial transactions, vending business owners will benefit from embracing EMV technology.

Payments Security – The Cornerstone of Trust

EMV chip-enabled transactions are considered more secure than Magstripe. Magstripe “swipe” transactions send card and user identifiable information during each transaction. EMV creates a unique code through twelve-layer encryption of the data. 

Yes, you read it right, twelve layers. This prevents criminals from misusing the transaction details, making it extremely difficult to counterfeit through data skimming at the point of transaction. Ensuring this level of security in financial transactions will help customers make their choice in favor of cashless payments.

Benefits of EMV

EMV chip-enabled transactions break the last barrier in the user adoption of cashless transactions. But it is not just that. Both vending businesses and customers can enjoy more benefits through EMV transactions as discussed below:


  • Customers feel confident transacting with the technology that has the latest and industry-standard security features.
  • The multi-layer encryption-based EMV technology minimizes in-person fraud and the associated losses for the customer.


  • Operators can rest assured that their customer’s data is protected. They can continue to enjoy the patronage of security-conscious customers.
  • The risk due to chargebacks is lesser for the vending business.
  • The secure transaction ensures that the liability for fraudulent transactions in most real-life scenarios rests with the banks, not the vending business.

Upgrade to Accept "Tap" Payments After December 1st!

 The New EMV Requirements

The stakeholders of the cashless payment ecosystem have come together to release the new EMV Mandate. As a part of this mandate, card processors will begin imposing fines on non-EMV transactions. This fine will be levied on the merchants and not the end consumer.

The new EMV Mandate comes into effect by December 1, 2022. Major payment solution providers will disable or turn off the “tap” and “mobile” options for cashless transactions. 

This issue of fines notwithstanding, the move to EMV Technology is safer for customers and less vulnerable to fraud for vending businesses.

What Stays and What Changes

This might sound like an imminent change in the ways of the world for all businesses, more so for small and medium vending machine owners. Responsible cashless payment solution providers like Greenlite Cashless are ensuring the transition is as easy as possible. Some of the aspects that will continue to remain the same after the December 1, 2022 are:

  • Customers can still do a contact swipe using their Magstripe cards. There is no change to that.
  • The level of telemetry information sent to and from the payment interface will remain the same. Only the security features like encryption will become better or improved.
  • The payment systems will continue to be compatible with existing Seed software.

What will change:

  • Credit and Debit card “Tap” payments using the EMV technology will not be fined by the processor
  • Mobile Wallets like Apple Pay, Google Pay, etc. will be accepted on EMV-enabled devices

Why You Should Upgrade

If you are a vending business owner, there are several compelling drivers for your upgrade to EMV technology. It reduces the risk due to fraud and chargeback. The vending business may appear to have good direct margins because of the sticker price variations of the product between a store rack and the vending machine. But fines and frauds on each transaction can easily wipe away profits.

EMV also improves the security of financial transactions. You can enjoy the trust of customers who will want to transact with the technology that is the least risky for them. Particularly if you are the first mover to EMV in your machine’s location while adjacent machines are still relying on less secure technology.

Moving to the latest technology can also delay the impact of technological obsolescence. A good example would be the move from 4G to 5G communications. If your devices are older than a few years, there is a good chance that you might want them changed to meet the looming commercialization deadline for 5G.

Greenlite EMV

Greenlite has rolled out several steps to help its customers navigate the EMV Mandate. As a limited time offer, there will be no upfront cost for a hardware upgrade. The monthly recurring fees will be fixed and predictable. The product is covered by an unlimited warranty throughout the agreement. To top it all, it has flexible options to bundle additional services from Greenlite.

Greenlite can help you decide on the upgrade, or if you have already decided on the upgrade, we can help you implement it. Greenlite ePort and Greenlite Pico options are both available from Vendnet. References:

  1. https://usa.visa.com/visa-everywhere/blog/bdp/2019/09/03/visa-emv-chip-1567530138363.html
  2. Data collected during a study conducted by Michigan State University’s Broad College of Business—MS Business Analytics (MBSA) program


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