1-855-360-5360 (TOLL FREE) 

0 item(s)   
EMV liability shift catching SMBs unaware

5/12/2015   category: EMV Migration

Breaking down the EMV liability shift

Below is what happens if a credit card data breach occurs after Oct. 1, 2015:

If a merchant is still using the swipe and signature method at the POS, and the consumer has an EMV chip-enabled credit card, the merchant is responsible for all losses in the event of fraud.

If the merchant has a POS system that accommodates chip-enabled credit cards, but the consumer's credit card has only the swipe option, the consumer's bank assumes liability for any losses should a data breach occur.

Finally, if a data breach still happens even though the merchant and consumer are both EMV-ready, the credit card issuer assumes the liability.

Suffering a credit card breach should be one of the major concerns for merchants. Those suffered by Target Corp. and The Home Depot Inc. were well publicized. What didn't make the news was the fact that 90 percent of the breaches over the last 18 months were suffered by SMBs.

Read more here: greensheet.com




EMV Migration
Merchant Benefits
Mobile Payments
Near Field Communication (NFC)
Industry Trends
Marketing



2016 payment trends - What's to come?

EMV liability shift: Who's liable for what - and when?

Restaurants adjust to EMV tipping

EMV observations at the liability shift

What you should know about payment security



 January 2016
 December 2015
 November 2015
 October 2015
 September 2015
 August 2015
 July 2015
 June 2015
 May 2015
 January 2015
 November 2014
 October 2014
 September 2014
 May 2014
 April 2014
 March 2014