By now, most of you know that there is a fraud liability shift coming. Specifically, if a fraudulent card is used at a merchant that is not equipped to support chip cards, the issuer of the card will no longer be liable and the merchant will become responsible for that liability. This shift is scheduled to take place in October 2015, and we want to be your source for communication, education and your new equipment needs.
We look forward to working closely with all of our clients this year for a successful and smooth transition to chip card acceptance. With that in mind, let’s start here with a short video to understand the basics and the evolution of the credit card.
We will be here to help you along the way! In the meantime, you can always contact our friendly Relationship Managers if you have any questions, they can be reached by calling 1-800-704-7253, Option #4.
We are a member of the Electronic Transactions Association (ETA) who has created the video.