EMV Update — September 2015

September 24, 2015

As the October EMV Liability Shift date approaches, we wanted to provide a clear explanation of EMV in today’s payments industry landscape, as well as a realistic look at what the coming months will bring.

EMV Chip Card Background

EMV is a joint effort between the card brands to increase card and cardholder security across the globe. Rather than relying on card mag stripe technology (which is the same technology used in cassette tapes), EMV payments use “smart” or “chip” cards. The new cards encode a user’s account information in the embedded chip, which generates a unique, one-time code for each sale. This prevents the data from being used to create counterfeit cards.

Chip cards will be entered into the terminal during a transaction, not swiped. In order to take advantage of the new security measures, existing swipe terminals must be upgraded to EMV-compliant equipment. However, chip cards will still be able to be swiped, as they are today, if a terminal does not support chip transactions.

October Liability Shift Deadline

Starting in October, new rules will go into effect around the financial liability for counterfeit fraud losses. Simply put, the liability for the fraudulent transaction will shift to the party that is not EMV-enabled. If all parties are EMV-enabled, the liability will typically stay with the card issuer.

EMV Challenges for Restaurants

Unlike most other retail settings, where the biggest consumer-facing change for chip cards will be to ask the shopper to dip the card rather than swipe it, restaurants must entirely rethink how they handle card payments. Because the card is never supposed to leave the possession of the cardholder, servers will no longer be able to carry the patron’s card away from the table. Restaurants will either have to implement a “pay-at-the-table” device or have a single register or payment kiosk. It will also mean that diners may have to choose a tip amount at the time they present the card.

POS System and Mobile Payments Users

EMV-enabled hardware and software solutions for point-of-sale systems and mobile payment applications are not fully developed as of yet. Rest assured, we are in frequent contact with our vendor solutions partners. When our partners are able to provide a viable solution for our merchants, OMEGA will be in contact about upgrades and deployment.

QSR/FPS Terminal Applications

EMV provides challenges for non-tip merchants who do not want to bother with a signature if a purchase is under $25. The EMV application will require a signature, regardless of the amount. However, for merchants who have selected the QSR terminal application, there will not be a signature required for any non-EMV transaction under $25.

Starting Point… Not the Endpoint

As the US payments market moves toward EMV adoption, here are some points to consider. According to Visa, just 18% of the 720 million Visa-branded credit, debit and prepaid cards in the US contained an EMV chip as of July. Also, only approximately 4% of merchants and 7% of bank and retail ATMs were enabled for chip card acceptance. While this number is growing, the reality is that not all merchants will be chip card-enabled by October 1, nor are they required to be. According to a Visa official, the company sees “October 1 as the starting point, not the endpoint” of the US conversion.


OMEGA Processing has multiple EMV-enabled terminals available, with various pricing and financing options. We are working closely with the processing networks to ensure that the processing applications are field-ready and free of errors. Please contact our customer service center at 866.888.9724 Ext. 7 with any questions or for more information.

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“Our goal is to make everyone feel welcomed and comfortable” Mic’s Pub celebrated as OMEGA MVP

September 18, 2015


Do you find yourself looking for a nice place to enjoy a craft or import beer at corner pub prices? That’s exactly what owner Mike (Mic) McDonald set out to do when he opened Mic’s Pub five years ago.

With so many young business professionals moving into the area, there was a need for a place for them to get the drinks they truly wanted. “I boast over 30 different beers and 22 top shelf bourbons,” Mic says. “If there’s something we don’t have that you would like, just let us know, and we will do our best to get it for you.”

Mic’s offers daily specials, ensuring you never have to break the bank. They have food catered every Sunday for free, as well as, $5 dollar top shelf bourbon once a month. And don’t forget about Karaoke every Wednesday night from 8 p.m.-12:30 a.m. with $1.50 Keystone Light. It’s always a blast and a sure fire way to have a great time!

Located in Latonia, Kentucky, Mic’s is the perfect place to celebrate before, during or after Bengals or Reds games. During Bengals games you can get $3.50 Bengal bombs and $8 buckets. He’ll even host your Fantasy Football Draft!

When you’re not enjoying the company and conversation with the wonderful staff and customers or singing your heart out on karaoke, you can find a variety of entertainment with the jukebox, darts and golf machine. They’re even planning on adding a patio in the near future, allowing you to spend your summer days and nights outdoors enjoying the fresh air.

If you want a laid back afternoon filled with cheers—Mic’s is a place for you. Looking for a night of good times and letting loose? Yep, Mic’s has that too!

Mic’s Pub is open from 3 p.m. – 1 a.m., Monday- Friday and 12 p.m. – 1 a.m., Saturday and Sunday. They are located at 3702 Huntington Ave at the corner of E Southern & Huntington in Latonia, Kentucky. Check out their Facebook Page for daily drink specials and entertainment and go have a drink at Mic’s!

The OMEGA MVP program was organized to help recognize, celebrate and promote the merchants, vendors and partners of OMEGA Processing Solutions. Mic’s Pub has been an OMEGA merchant since May 2015.

Card Fraud Losses Toped $16 Billion in 2014

August 11, 2015

Fraud losses incurred by card issuers, merchants and acquirers reached $16.31 billion in 2014 per The Nilson Report. Are your electronic payments systems protected?

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OMEGA Processing 2015 Best of NKY Winners

August 6, 2015

Best of NKY

Congrats to these OMEGA Processing merchants who were highlighted as 2015 Best of NKY winners.

NKY Magazine readers nominated finalists in 60 categories, Over 1,000 people attended the Best of NKY Party in June and voted on the winners. All of this year’s winning establishments are highlighted in the Best of NKY issue of NKY Magazine.

Thanks to all for being OMEGA Processing Solutions Merchants!

NKY Chamber and OMEGA Processing Solutions Announce New Payments Processing Partnership

August 5, 2015

Locally based OMEGA to provide comprehensive suite of secure payments services to five-star accredited chamber

 [FORT THOMAS, Ky. — August 4, 2015] Northern Kentucky-based OMEGA Processing Solutions has been selected by The Northern Kentucky Chamber of Commerce as the organization’s payment processing partner. The three-year agreement covers all credit card processing services utilized by the Chamber, including terminal, online and mobile transactions.

“OMEGA is very excited and proud to be teaming up with the Chamber for their credit card processing program,” commented Scott Anderson, OMEGA Processing CEO. “Our company will be able to provide the Chamber with the latest products and services at a competitive price, which will benefit its members.”

“We are a long-time supporter of the Chamber and its mission, and we are very much looking forward to partnering on their payments needs,” continued OMEGA Processing President, Todd McHugh. “As our relationship moves forward, we’re looking to collaborating with the Chamber on additional ways we can assist both the organization and its members.”

The agreement was awarded to OMEGA Processing Solutions via a Request for Proposal for the Chamber’s banking and financial services providers.

About the Northern Kentucky Chamber of Commerce

The NKY Chamber represents businesses in Northern Kentucky and the Greater Cincinnati region with a mission to promote and support the development of strong businesses and a vibrant economy through leadership and advocacy, resulting in a better quality of life for all. A nationally accredited, five-star chamber, the organization has a history full of success stories about people and companies who rose to the occasion and did something important.

About OMEGA Processing Solutions

OMEGA Processing Solutions offers secure electronic payments processing, mobile payments, point-of-sale (POS) systems, gift cards/ customer loyalty programs and business funding solutions to over 7,000 merchants and 450 financial institution locations nationwide. Founded in 2003, OMEGA Processing Solutions is the region’s sole local, full-service merchant processing provider. OMEGA has an A+ rating from the Better Business Bureau and is a member of the BBB Center for Marketplace Ethics Leadership Circle. For more information, please visit www.omegap.com or call 866.888.9724.

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Interchange Relief with OMEGA VT

July 30, 2015

When it comes to qualifying for lower interchange fees, the general rule of thumb is “the more information, the better.” Nowhere is this more true than with Business-to-Business (B2B) transactions. By including additional data, such as tax amount, customer code, merchant postal code and tax identification information, B2B transactions can qualify for lower interchange rates. And, OMEGA Processing’s industry leading virtual terminal product, OMEGA VT, can help.

Transaction Categories

Transactions fit into one of three different categories – Level I, Level II or Level III. Each level has its own data requirements and methods of verification and authorization, ranging from very limited to very detailed.

Level I processing refers to typical business-to-consumer (B2C) transactions, during which consumers use their personal credit cards. While the data required to process a Level I transaction is small, the interchange rates are higher.

Level II and III processing involve business-to-business (B2B) transactions and require completing extended data fields when completing the transaction. Including this additional data improves transaction security and allows commercial accounts to monitor and control credit card spending. In addition, merchants can save from 1 – 2% on their processing costs by having transactions qualify for Level II and III processing.

How Does OMEGA VT Help?

Level II processing options for B2B transactions come built-in to every OMEGA VT account – at no additional charge. By requiring a few additional data fields on B2B transactions, transactions may qualify for Level II processing and interchange rates between 0.05% – 0.50% lower than Level I transactions.

For those merchants who primarily process more detailed B2B transactions, Level III processing is also available, which offers even more interchange savings. While Level II processing has its own pricing schedule, these transactions can qualify for rates 0.25% -2.50% lower than Level I transactions.

Looking for more information on saving with B2B transactions with OMEGA VT?  Contact OMEGA Processing’s Customer Service team at 866.888.9724 Ext. 7.

VT processing

Looking to Partner with an Industry Leader?

July 15, 2015

At OMEGA, our business philosophy is to understand the roles of a processor and what it means to a financial institution, then translate this different way of thinking into measurable success. There are four key components to the OMEGA Processing Solutions Financial Institution Partner Program.

1. Enhance the bottom line through augmentation of fee income and increasing the number of customers and the number of services within the same relationship.

2. Minimize risk. OMEGA takes on all risks and liabilities associated with the merchant services program, including chargebacks, security, fraud and compliance.

3. Care for the customer — is forgotten by most and taken for granted! Our goal is to become a true trusted partner of the bank and a one-stop shop for merchants. We do not have merchant contracts nor early termination fee, so inherently customer service is the backbone of our success.

4. Design customizable programs that provide options which are best suited for producing results and matching the sales culture of the bank.

Want to know more? Contact Jeff Parnell, Vice President Correspondent Banks for more information.

866.888.9724 Ext. 829




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