EMV Deadline Approaches Leaving Retailers To Scramble In Latest Update From Merchant Warehouse
The October 2015 liability shift places pressure on retailers to update their systems to meet the new requirements.
BOSTON, Nov. 1, 2014 /PRNewswire/ -- In October of 2015, EMV will become a reality for those individuals involved in the process of accepting credit cards. Merchant Warehouse has released their latest update, providing an overview of EMV and the liability shift coming in 2015. According to the update while each card payment brand (Mastercard, Visa, American Express, Discover) has their own set of regulations, all are in agreement that following the deadline whichever party is found to be the cause of the contact chip transaction not occurring will be held financially liable for any resulting card present counterfeit losses.
The move to EMV technology will require updates from businesses, processors, as well as card issuers, and the infographic details what the specific responsibilities are for all those involved. In addition to updating existing hardware, retailers will need to work with their staff as well as their merchant service provider to ensure that their systems meet the new requirements, and that consumers use the technology correctly. While the deadline is a year away, businesses that are able to develop a time-sensitive EMV roadmap and begin working with the processors now can ensure their business is prepared in time.
Retailers who are interested in learning more about the EMV liability shift and how to develop their EMV roadmap, should visit Merchant Warehouse at http://merchantwarehouse.com/preparing-your-business-for-emv to view the full update.
About Merchant Warehouse
Merchant Warehouse is a leading provider of payment technologies and processing solutions. The company's solutions enable merchants to more effectively connect and engage with their customers regardless of how, where, or when they choose to shop. Merchant Warehouse's flagship technology solution, the Genius™ Customer Engagement Platform™, supports both traditional and new payment types, including NFC and QR, from a single countertop acceptance device. Merchant Warehouse is one of the fastest growing payment technology companies in North America.
SOURCE Merchant Warehouse
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