![]() ![]() And, merchants who accept credit cards in a face-to-face environment must upgrade to chip-compatible equipment to avoid potential losses due to fraud and chargebacks. The liability shift means that card issuers must begin to implement EMV chips in the cards they produce. The EMV deadline, commonly referred to as the “liability shift”, is set for October 1, 2015. What Does it Mean for You and Your Business? ![]() Chip cards are extremely difficult to duplicate, and paired with additional layers of security such as encryption, tokenization and other authentication techniques, EMV is geared toward significantly reducing card payment fraud. EMV stands for Europay, MasterCard® and Visa® and refers to the increased security of payment card transactions through the use of a chip embedded in credit, debit, and prepaid cards.
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