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According to the most recent Nilson Report, $24.26 billion is lost worldwide to credit card fraud on an annual basis, which is comparable to the Gross Domestic Product of nations such as Iceland and El Salvador.READ MORE
Let’s paint two seemingly harmless scenarios for you. A customer comes into your business and attempts to pay for a purchase with an EMV chip card.READ MORE
Wondering what all the fuss is about with EMV-certified terminals? Since the liability shift both providers and businesses have scrambled to obtain compliant equipment.READ MORE
Ever since the liability shift, Smart Terminals have flooded the U.S. market. With the major selling point being EMV acceptance, many providers benefit as businesses continue to upgrade their merchant credit card processing equipment. However, a truly “smart” terminal goes above and beyond just accepting EMV.READ MORE
The 2015 liability shift transferred the financial responsibility for chargebacks resulting from incorrectly processed EMV transactions away from the card brands and onto businesses. Although this shift occurred a few years ago, many businesses still use non-certified EMV terminals or rely on outdated swipers due to cost constraints, antiquated providers and lack of pressure to adopt new technology.READ MORE
The EMV liability shift refers to the 2015 transfer of responsibility for fraudulent losses from the card brands to businesses in cases when the fraud occurred on an incorrectly processed chip card.READ MORE