From Retail Customer Experience:
Compliance with EMV (Europay, MasterCard, and Visa) is no longer a choice for businesses that accept credit cards. Card issuers will hold businesses liable for fraudulent credit card charges if their payment equipment is not EMV compliant, as described in part 1 of this two-part series.
But because of the difficulty that many businesses have faced trying to implement EMV, the card issuing companies have postponed enforcing the liability shift to give businesses more time to comply.
The goal of EMV is to help reduce counterfeit fraud costs for merchants who have not yet upgraded their POS terminals to accept EMV chip cards.
Read the rest of this article here.
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