Planning to upgrade your credit card processing terminal to EMV/chip technology? Amex just announced a $100 rebate for businesses that switch to the new secured technology. The rebate is valid Feb. 1 - April 30, 2015 to small merchants when they upgrade to EMV/chip-enabled poing of sale systems. Don't worry if you already updgraded. If you meet the program's eligibility requirements, you're also eligible to receive the rebate.
Here's the run down.
Eligible Merchants must be located 48 contiguous United States, Alaska or Hawaii with less than $3 Million in annual American Express charge volume.
Not Eligible Merchants include:
- Small businesses that are part of a franchise brand; any franchise brand with more than 20 corporate owned stores
- Independently owned gas stations that are affiliated with an oil brand operating more than 100 locations
- Online-only businesses
- Merchants with more than $3 Million annual American Express charge volume
Thanks to American Express, now there's a financial gain in preparing for the EMV liability shift. Note, merchants must incur a direct financial cost in connection with the upgrade. Limit (1) Reward Card per merchant. Dont wait till mid-April to claim your rebate. It may take 2-4 weeks to process documentation for the rebate program.