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Expertise for Your Business

MSP works directly with our clients to address important payments topics and provide clarity and guidance to optimize our clients programs. The following is a sampling current key topics addressed.


EMV stands for Europay, MasterCard and Visa. It is a payment specification that defines how chip-based credit cards (smart cards) will interface with new credit card terminals and Point-of-Sale (POS) systems at card-present (brick and mortar) businesses. EMV is intended to replace the magnetic stripe with a more secure chip-based technology.

MSP Consulting carefully monitors our clients’ EMV readiness and advises on the new EMV requirements and impacts. While card-present businesses must have the technologies and procedures to accept EMV cards, card-not-present and ecommerce businesses must also be aware of the expected increase in fraud and actions to be taken to mitigate risk.

We regularly update our clients on key considerations regarding EMV Chip Cards to keep them well informed. MSP Consulting has published articles and presented at conferences regarding EMV Chip Cards to help businesses understand the implications, benefits and associated costs.

Is Your Business Ready for EMV?


In order for businesses to protect cardholder data, mitigate risks and fines and avoid fees charged for non-compliance, it is important to demonstrate PCI DSS compliance. Visa, MasterCard, Discover and American Express have mandated that all businesses accepting credit and debit cards demonstrate compliance to Payment Card Industry Data Security Standards (PCI DSS), often referred to as PCI Compliance. MSP Consulting recommends PCI compliant solutions to our clients, helps monitor our clients’ compliance and assists with actions needed to remain compliant – just another way MSP Consulting goes further to provide the highest service level and support to our clients.

Businesses are required to complete a self-assessment questionnaire annually to verify PCI Compliance. For many businesses, this simply involves completing an annual online questionnaire and conducting a quarterly scan for businesses that transact via an IP-based connection, such as a web-based virtual terminal. While being PCI Compliant does not guarantee a business will avoid a data breach, it does demonstrate the business is taking efforts to avoid such a situation.

More information regarding PCI compliance and the importance to your business can be found at

Fraud Avoidance

Credit card fraud related issues are a major challenge for businesses in the U.S. and worldwide. The Nilson Report sites that U.S. card issuers lost $3.4 billion and merchants another $1.9 billion in 2012 and the U.S. represented 47 percent of the counterfeit fraud globally.

Businesses need to understand methods to combat credit card fraud and avoid unnecessary loss for their business, as well as improved management of chargebacks. MSP Consulting works directly with our clients to help implement leading practices and tools that can be utilized for their benefit. Refer to the link below to see a fraud avoidance presentation and published article about EMV chip cards and fraud avoidance.

Avoiding Fraud for Your Business

Transaction Security

Encryption and tokenization, in simple terms, are methods to secure payment transactions in an effort to avoid credit card data theft. Heightened sensitivity to fraud and data breaches has facilitated payment software providers to incorporate improved security methods. Encryption involves complex algorithms to code and decode sensitive data such like card numbers. Tokenization actually replaces the sensitive data with a reference code that has no value by itself. Website based, mobile and Point-of-Sale software payment solutions are adopting these capabilities to increase security of transactions. MSP Consulting reviews third party software and payment tools to understand the transaction security methods used to help our clients adopt secure environments and avoid unnecessary risks.

Please visit our blog to see our published articles and other industry resources profiling mobile wallets and key considerations.

Mobile & Virtual Wallets

Apple Pay, Android Pay and Visa Checkout are examples of mobile or virtual wallets that have become widely used by companies and consumers alike. New payment technologies like these are constantly being introduced and new methods often leverage mobile technology and security capabilities such as encryption and tokenization.

MSP Consulting reviews new payment technologies and capabilities to determine which players will likely prevail and at what point businesses should consider adopting the payment solutions to maximize benefit. As adoption of mobile and virtual wallets grows over the next several years, MSP is prepared to help clients develop the most up to date solutions.

Please visit our blog to see our published articles and other industry resources profiling mobile wallets and key considerations.

Please visit our blog to see our published articles and other industry resources profiling mobile wallets and key considerations.

Convenience Fees

As part of the 2012 lawsuit settlement, Visa, MasterCard, Discover and American Express have relaxed their restrictions on businesses charging surcharges and convenience fees to customers making credit and debit card payments. While the restrictions have been relaxed, rules are still in place, and unfortunately, the rules are not consistent across card types, leading to confusion on how to implement surcharges within the regulations. In addition, certain states have laws under consumer protection sections that prohibit such surcharging practices.

It is important to understand the rules for your specific industry and location when configuring surcharges or convenience fees. MSP Consulting is informed on these requirements and provides input to our clients to help them in their decisions regarding such charges.

What Our Clients Are Saying

“MSP has done what they initially said they would do — save our business money and make managing our credit card activities simple. That is what I asked for and that is what they have delivered!”

Chief Financial Officer

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