EMV is the technology behind “chip cards,” which come with an embedded microprocessor that provides extra transaction security to help prevent fraud. The way these cards work properly is by having equipment that can interact with the chip. As of October 1, 2015, there was a “liability shift” for disputed transactions, and whichever party provides the most EMV options at the time of a sale will be protected from financial liability. This could impact you if a customer presented a chip card but you had not yet adopted EMV-enabled equipment. If the transaction was later disputed, you would accept the full liability. Click here
for more information about EMV.
If you want to know if your equipment is EMV-capable, call us so we can help: 1-(877)375-8100 toll free, or (907)770-8100 in Anchorage.