Influential Factors Stimulating EMV And NFC (Contactless Payment) Adoption

The October 1st, 2015 Liability Shift —

Merchants (with the exception of petroleum merchants) need to update their credit card terminals to accept EMV chip cards by this date or they may assume financial responsibility if a data breach or counterfeit transaction occurs.

After this date if a fraudulent purchase is made using a counterfeit card in your business, you will assume responsibility for the fraudulent cost if you do not have EMV capable devices.

Presently, issuing banks assume any financial liability if fraud originates from a counterfeit, lost or stolen credit card.

Download the full infographic below to learn more.