How To Help Your SMB Merchant Customers Prepare For EMV
Merchants are facing the requirement to have payment systems compliant with EMV, the global standard for debit and credit cards that leverages chip card technology. In October 2015, liability for transactions made with counterfeit cards will shift to acquirers and merchants — and the least compliant party will be responsible for covering the full cost of the fraudulent transaction.
Steve Mathison, VP of product management for First Data, tells how to help your SMB customers prepare for the new requirements.
Q: What conversations should VARs and other IT solutions providers have now with their SMB customers about EMV?
Mathison: Ahead of working with SMB customers, VARs and IT solutions providers themselves must understand the importance in education and preparation for the upcoming EMV changes. Although this topic is broadly covered in the news, SMB customers still might not understand the implications or feel they can afford to accommodate this shift.
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