I’m sure you’ve been hearing a lot about the nation’s transition to EMV® chip cards, and may even be seeing them as they appear in more and more consumer wallets. The following information from TSYS Merchant Solutions, our preferred payment provider, offers more information about the nation’s move to chip cards and why it is in your best interest to make sure you are able to accept them.
They’re out there. Lurking. You may even have seen a few. But for now, they seem more like conversation pieces.
That is about to change.
The transition to EMV® chip cards is real. And so is the liability shift that takes effect October 1.
After October 1, any brick-and-mortar business that has not updated its Point–Of-Sale (POS) devices or systems to accept chip cards will be liable for fraudulent charges from counterfeit cards. That’s because when the liability shift takes effect in October, fraud liability will shift from card issuers to those who are less chip card compliant in any given situation. So if a consumer passes off a fraudulent transaction on a counterfeit chip card in your business after October 1, you’ll be responsible for the damages unless you’ve upgraded.
Have you made the transition? If not, let’s get started.
TSYS Merchant Solutions is at the forefront of the EMV transition, offering education, real answers and multiple solutions. Many of our customers are already up and running, accepting chip cards and helping protect their customers’ sensitive card information.
Preparing your business to accept chip cards may be as easy as adding a new chip-capable terminal. Through our partnership with DCIT, we are offering free, EMV ready PAX s300 terminals to DCIT software users switching to TSYS Merchant Solutions for their processing needs. The PAX s300 is the only chip-ready solution that fully integrates with DCIT software.
For more information, check out the EMV resources on our website and download our new e-book, EMV®, Tokenization, & Encryption: The Path to Securing Your Small Businesses.
If you would like our help with your transition to chip card acceptance, contact: