It’s a global payment standard that provides a consistent cardholder experience worldwide—designed to greatly reduce the chances you’ll receive a counterfeit payment card at your place of business. EMV-enabled cards contain a computer chip that is activated and read when inserted in the card reader or tapped for contactless acceptance.

Come October 1, 2015, you could be liable for chargebacks resulting from acceptance of lost, stolen or counterfeit cards. Generally, liability for these chargebacks will shift to the party using the least secure technology. If you do not have an EMV terminal installed and working, that could be you!

Category: Regulations

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