What Is EMV and the Liabilty Shift?
Starting October 2015 merchants in the US that are not compliant with the new EMV payment standards, which encourage a shift from magnetic-stripe cards to the more secure chip cards, will be held liable for any fraudulent purchases that occur.
More commonly known as the “liability shift,” this poses a huge risk for business and restaurant owners since fraud liability is estimated to cost the US over $10 billion in 2015. Granted EMV participation will be voluntary for merchants, you don’t want to be the one caught off guard and having to pay if your customer data is stolen, which happens more often than you think.
We Can Help
We can help you make the conversion and in most cases save you substantial processing fees in the process. We offer secure EMV hardware and processing along with fast, friendly and knowledgeable service. We can integrate with most POS systems and can offer Dinerware, PC America and Shopkeep POS options if you are looking for a new system.