What is happening?
Visa has mandated that from 14th October 2017 all Contactless transactions must now be communicated to your acquiring bank for real-time authorisation, regardless of value. This follows the same process that is already in place for Apple Pay and Android Pay.
This move supports a growing trend toward contactless payments and reducing risk associated with fraud and charge-backs for both card-holders and merchants.
To receive the required update you will need to be running v03.56.19.3 or later of the VeriFone software. If you have received an update by fidelity recently to resolve issues with chip and pin transactions crashing you will be on the correct version. if you are unsure, please contact our helpdesk and we will check for you.
If you are not running the correct version by the 14th October when the change is implemented your system will continue to work and you will still be able to take contactless Visa payments. Your acquirer may potentially charge you extra for these transactions until the changes are made. You would need to confirm this with your acquirer/merchant provider.
What do I need to do?
Be happy you are running the correct version.
On the morning of the 14th October, restart your tills to download and apply the required update.
Train staff on the new process - Contactless transactions where often known as 'Tap and Go' but now the till operator will need to make sure the transaction is authorised before they allow the customer to walk away
You will be on the correct software version if you have been installed/upgraded within the last 3 months. If you are unsure please log a ticket with us and we will check for you.
What impact will this have?
Transaction times will become slower. This is because the system will go through a full online authorisation process for each transaction. Previously contactless transactions would authorise without doing this process.
What if I do not get this update?
You will still be able to continue taking contactless transactions as usual however you may be charged extra by your Merchant for processing these transactions.