/EMV Liability Shift
EMV Liability Shift2016-11-18T22:19:29+00:00
[block_title padding_desc=”18%” title=”What is EMV?”]EMV (Europay, MasterCard, Visa) is a new type of credit card being issued to consumers containing a small electronic chip which protects your customers’ data better than a magnetic stripe alone. A secure, unique code is generated for each transaction. This added security has already been widely used around the world to reduce fraud for many years.[/block_title]
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ANOTHER LAYER OF SECURITY

The latest EMV technology has built in security for each transaction. EMV cards generate a unique code that is validated by your bank for each transaction, and the code cannot be re-used. This eliminates the ability to use a fake card with stolen data and ultimately reduces fraud.

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MOBILE AND NFC PAYMENTS

Contactless cards and mobile payments are attractive for the convenience they offer accountholders. Fortunately, today’s contactless EMV cards and Mobile EMV payments are fortified with the full protection that EMV affords.

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CONSUMER TRUST & FRAUD

EMV brings powerful security for every transaction. Each year counterfeit fraud losses continue to decrease all over the world thanks to the security of EMV. The new equipment is gaining public interest & consumers are going to expect this type of security in the future.

WHEN IS THE EMV LIABILITY SWITCH?

On October 1, 2015, Visa, MasterCard, Discover, and American Express shifted liability of fraudulent card-present transactions to the least EMV-compliant party.

HOW DOES EMV AFFECT MY BUSINESS?

If a fraudulent transaction happens at your place of business after October 1, 2015, and you are NOT equipped with EMV-capable equipment, your business may be liable for the cost of the fraudulent transaction and chargeback fees.  This does not mean your equipment is broken or will stop working, and you will not be fined.  It means you may become liable for fraudulent charges and fees if your hardware is not upgraded to accept EMV-compliant transactions.

DO I HAVE TO UPGRADE?

You are not required to upgrade before October 1, 2015—but the liability shift is to encourage you to do it as soon as possible.  Whenever the time is right for your business to make the switch, we have what you need.  We will consult with you on equipment upgrades to help you make the transition as seamless and easy as possible.

[block_title title=”I’m ready to upgrade now, can Insite set me up?”]YES! We will help you choose the best EMV solution for your business.  Please reach out to us at 805-427-9777 or click the button below to get started.[/block_title][textbar style=”style_2″ button_title=”UPGRADE TO EMV” button_link=”www.insitepayments.com/?page_id=74″ icon=”steadysets-icon-arrow-right”]
@2016 Insite Payment Solutions, LLC - All Rights Reserved | Insite Payment Solutions is a registered agent of Chosen Payments - a registered ISO of Wells Fargo Bank, N.A., Walnut Creek, California. All trademarks, service marks and trade names referenced in this material are the property of their respective owners. Insite Payment Solutions is a contracted reseller of the Clover™ Solution. This web page or web site is not an official page of Clover Network Inc., First Data, its Subsidiaries or Affiliated Businesses.
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