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Go ahead, open your wallet. Chances are that your credit and debit cards feature a square “chip” on the front that gets inserted into an EMV Card Reader to make a payment. It may also have a symbol that resembles a “signal” that is “tapped” on an EMV Card Reader to make a payment. And it likely still has a magnetic strip on the back that is swiped through a payment terminal that is not equipped to read EMV chip cards.READ MORE
“Why are we using these slow EMV cards?”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 Although this shift occurred a few years ago, many businesses still use non-certified EMV terminals or rely on outdated swipers due to cost constraints, antiquated providers and lack of pressure to adopt new technology.READ MORE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
Providing a simple chargeback definition isn’t easy because there are multiple types of chargebacks that can be filed. While they all share the same desired outcome, they differ in intent.READ MORE
Credit card fraud is bad for everyone but the fraudster. As a consumer, you might spot fraudulent transactions on your credit card statement that send you into a panic. You’re anxious to receive financial reimbursement, safeguard your identity and determine how your payment information was obtained.READ MORE