Visa’s EMV policy roadmap includes a policy to shift EMV fraud liability to the party with the lowest degree of EMV compliance. According to Visa’s announcement, the following policy becomes effective in October 2015:
October 1, 2015 – Counterfeit Card Liability Shift. The party that has made investment in EMV deployment is protected from financial liability for card-present counterfeit fraud losses on this date. If neither or both parties are EMV compliant, the fraud liability remains the same as it is today. This date excludes automated fuel dispensers.
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.