ARE YOU READY TO COMPLY?
Don’t allow yourself to be vulnerable …..
Time is running out!
The deadline is 10/01/15
The nationwide shift to EMV is well underway!
EMV (Europay, MasterCard and Visa) is a global standard for credit cards equipped with computer chips and the technology used to authenticate chip-card transactions. In the wake of numerous large-scale data breaches and increasing rates of counterfeit card fraud, U.S. card issuers are migrating to this new technology to protect consumers and reduce the costs of fraud.
These new and improved cards are being deployed to improve payment security thus making it more difficult for fraudsters to successfully counterfeit cards; it’s an important step forward.
For merchants and financial institutions, the switch to EMV means adding new in-store technology and internal processing systems, and complying with new liability rules.
For consumers, it means activating new cards and learning new payment processes.
Most of all, it means greater protection against fraud! This is good for all of us!
IMPORTANT – the effective date for this transition in the U.S. is October 1, 2015. It’s already in place in over 80 other countries.
If you currently maintain a terminal to process transactions, you must change to a new Chip-ready, Apple Pay ready and EMV compliant terminal.
If you are not yet aware of these changes or you have any questions, please contact me.