Infographic: 2015 U.S. EMV liability shift
Under the liability shift, the least secure party in a card transaction - the issuer or acquirer who does not support EMV by the liability shift deadline - assumes the liability for counterfeit card transactions and, in some cases, for lost and stolen card transactions.
EMV liability shift catching SMBs unaware
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.
