The United States nationwide migration to EMV chip credit cards is still well underway. Many people are receiving notices from their banks and new cards are being delivered. Recently, a new law has led to a change taking place that is leaving some merchants, retailers, small business owners and start up entrepreneurs confused and wondering what the implications are for them, their business and their level of liability.
This new liability shift means that if a business owners don\'t upgrade to EMV compatible chip readers, they will be held liable for any fraudulent credit card activity that takes place in their establishment. This is true whether they had any knowledge of the activity or not. This infographic, from the amazing people at Square, breaks down the ins and outs of this liability shift in an in depth but simple way that will put you at ease and allow you to focus on the many other aspects of your business.
Infographic by: squareup.com
This new liability shift means that if a business owners don\'t upgrade to EMV compatible chip readers, they will be held liable for any fraudulent credit card activity that takes place in their establishment. This is true whether they had any knowledge of the activity or not. This infographic, from the amazing people at Square, breaks down the ins and outs of this liability shift in an in depth but simple way that will put you at ease and allow you to focus on the many other aspects of your business.
Infographic by: squareup.com
