Learn if you have the right infrastructure in place to protect your business from being held liable for fraudulent charges.

Recent numbers indicate that only 27% of US merchants are EMV-ready.

1. EMV^™ stands for Europay, Mastercard and Visa.

2. The new EMV regulations went into effect on October 1, 2015.

3. Chip cards have been in use all over the world for several years, with the United States being the last country to make a full transition.

4. Your businesses’ liability will go up if you do not use a chip card reader.

5. The reason for the switch is that chip cards are much more secure than magnetic swipe technology which has been around since the 1960s.

6. Chip cards can still be swiped, so you won’t have to stop doing business if you haven’t become compliant yet. BUT, if you swipe a chip card instead of using a chip card reader YOUR BUSINESS will be responsible if it is a fraudulent charge.

7. If a customer uses a card that does not have chip card technology, the bank that issued the card is responsible. Most banks have taken this seriously and have issued chip cards to their customers.

8. Small business merchants are the currently the most likely targets of credit card fraud. As the EMV technology spreads, those who are still using magnetic stripe technology will be at the highest risk.

9. The cost of becoming compliant is small compared to the impact of fraudulent charges on your business.

10. Talk to your POS (Point of Sale) provider about compliance. They can answer any questions you have about the new regulations and offer the right options for your business to become compliant.

Need to find out if your business is compliant? The Marketing 360 Payments team is here to serve you!