Effective October 1, 2015, counterfeit fraud liability, which has traditionally been assumed by the card issuer, will be assumed by any party that does not have an EMV- enabled POS terminal.
EMV technology and chip card acceptance is changing the way your customers pay. Educate yourself on this technology so that your business is ready to accept chip cards and avoid potential counterfeit card fraud liability. Effective October 1, 2015, counterfeit fraud liability, which traditionally has been assumed by the card issuer, will be assumed by any party that does not enable EMV. The best way to protect your business from this liability is to use EMV- enabled POS terminals that accept chip card transactions. Here's what you need to know to get your business chip card ready. For more information, contact Jonathon Thayer at 800.546.1831 ext 5711 or Jonathon.thayer@elavon.com.