• 423-362-4166

EMV Fraud Liability Shift

The fraud liability shift is already in affect.  You may have noticed over the last few months most of your credit cards have been upgraded to the new chip technology.  This upgrade helps protects consumers and businesses by making it virtually impossible to replicate and create counterfeit credit cards.  However, for business owners that have not changed out their terminals they may now be held liable for counterfeit transactions.

      What is EMV you ask? It stands for Europay, MasterCard, and Visa.  They are the three companies that originally created the standard for the new smart cards.  There are now over 200 companies that make up the Smart Card Alliance.

      Here are three things you need about the new chip technology.

1. The fraud liability shift to merchants took place last October. 

Merchants who have not upgraded to chip enabled terminals can be held liable in the event of a counterfeit transaction.  For full details check here.

2. Online card transactions still follow old rules.

Card not present transactions, atm transactions, and lost/stolen cards still follow existing liability and chargeback rules.

3. The fraud liability shift for gasoline retailers not till 2017

Gasoline retailers still have 2 years to implement and upgrade credit card terminals.  Since a gas station can easliy have 20 or more terminals for the various pumping stations the liability shift was won’t take place till 10/15/2017.

Leave a Comment

You must be logged in to post a comment.

[gravityform id=10 title=false description=false ajax=true]
<div class='gf_browser_unknown gform_wrapper' id='gform_wrapper_10' ><div id='gf_10' class='gform_anchor' tabindex='-1'></div><form method='post' enctype='multipart/form-data' target='gform_ajax_frame_10' id='gform_10' action='/emv-fraud-liability-shift#gf_10'> <div class='gform_body'><ul id='gform_fields_10' class='gform_fields left_label form_sublabel_below description_below'><li id='field_10_3' class='gfield gf_left_half gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible' ><label class='gfield_label' for='input_10_3' >Full Name<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_text'><input name='input_3' id='input_10_3' type='text' value='' class='large' placeholder='Your Name' aria-required="true" aria-invalid="false" /></div></li><li id='field_10_2' class='gfield gf_half_right gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible' ><label class='gfield_label' for='input_10_2' >Email<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_email'> <input name='input_2' id='input_10_2' type='text' value='' class='large' placeholder='Your Email Address' aria-required="true" aria-invalid="false" /> </div></li><li id='field_10_5' class='gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible' ><label class='gfield_label' for='input_10_5' >Message<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_textarea'><textarea name='input_5' id='input_10_5' class='textarea small' placeholder='Please leave us a message.' aria-required="true" aria-invalid="false" rows='10' cols='50'></textarea></div></li> </ul></div> <div class='gform_footer left_label'> <input type='submit' id='gform_submit_button_10' class='gform_button button' value='SEND' onclick='if(window["gf_submitting_10"]){return false;} window["gf_submitting_10"]=true; ' onkeypress='if( event.keyCode == 13 ){ if(window["gf_submitting_10"]){return false;} window["gf_submitting_10"]=true; jQuery("#gform_10").trigger("submit",[true]); }' /> <input type='hidden' name='gform_ajax' value='form_id=10&amp;title=&amp;description=&amp;tabindex=0' /> <input type='hidden' class='gform_hidden' name='is_submit_10' value='1' /> <input type='hidden' class='gform_hidden' name='gform_submit' value='10' /> <input type='hidden' class='gform_hidden' name='gform_unique_id' value='' /> <input type='hidden' class='gform_hidden' name='state_10' value='WyJbXSIsIjA3ZTJiOTc1OGM3OTYyY2RlYmQ0MWI1YTA5NTQxMWRjIl0=' /> <input type='hidden' class='gform_hidden' name='gform_target_page_number_10' id='gform_target_page_number_10' value='0' /> <input type='hidden' class='gform_hidden' name='gform_source_page_number_10' id='gform_source_page_number_10' value='1' /> <input type='hidden' name='gform_field_values' value='' /> </div> </form> </div> <iframe style='display:none;width:0px;height:0px;' src='about:blank' name='gform_ajax_frame_10' id='gform_ajax_frame_10'>This iframe contains the logic required to handle Ajax powered Gravity Forms.</iframe> <script type='text/javascript'>jQuery(document).ready(function($){gformInitSpinner( 10, 'https://www.theamericaninsurancegroup.com/wp-content/plugins/gravityforms/images/spinner.gif' );jQuery('#gform_ajax_frame_10').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_10');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_10').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_10').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_10').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_10').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ jQuery(document).scrollTop(jQuery('#gform_wrapper_10').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_10').val();gformInitSpinner( 10, 'https://www.theamericaninsurancegroup.com/wp-content/plugins/gravityforms/images/spinner.gif' );jQuery(document).trigger('gform_page_loaded', [10, current_page]);window['gf_submitting_10'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_10').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_10').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [10]);window['gf_submitting_10'] = false;}, 50);}else{jQuery('#gform_10').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [10, current_page]);} );} );</script><script type='text/javascript'> jQuery(document).bind('gform_post_render', function(event, formId, currentPage){if(formId == 10) {if(typeof Placeholders != 'undefined'){ Placeholders.enable(); }} } );jQuery(document).bind('gform_post_conditional_logic', function(event, formId, fields, isInit){} );</script><script type='text/javascript'> jQuery(document).ready(function(){jQuery(document).trigger('gform_post_render', [10, 1]) } ); </script>