According to MasterCard, Visa, and American Express, three of the four companies responsible for establishing EMV in the U.S. payments ecosystem, their EMV roadmaps include policies to shift EMV fraud liability to the party with the lowest degree of EMV compliance.
Discover, the fourth payment brand involved in the U.S. EMV rollout, has chosen not to enact a fraud liability shift policy.
For more information about the exact policies, please visit the brand-specific pages below:
- MasterCard’s EMV Fraud Liability Shift
- Visa’s EMV Fraud Liability Shift
- American Express’s EMV Fraud Liability Shift
All three of the payment brands enacting EMV fraud liability shifts have chosen an October 2015 deadline for EMV compliance. Automated fuel dispensers have until October 2017 to become compliant. At these points, the shifts become effective. U.S. merchants are not forced to comply with EMV policies and standards, but they risk exposure to the costs of fraudulent transactions if they elect not to comply.
Interested in EMV compliance?
Host Merchant Services offers EMV solutions for business owners. If you’re interested in getting a head start on the rest of the U.S. market, contact an HMS sales representative today and ask about our EMV-compliant equipment and processing options.