Momentum Builds In EMV Transition: Solutions Providers, Don't Get Left Behind
Progress in EMV migration in the U.S. is building momentum, according to Karen Cox, VP of payments and retail solutions for Moneris Solutions.
“Tier one retailers are engaged. They’ve done the business case. They have a plan,” says Cox. “Maybe they won’t be 100 percent transitioned in October, but they know when they will be, and they know what the risks are.”
October 1, 2015, is the date when liability for fraudulent payment card transactions shifts to acquirers and merchants — with the least EMV-compliant party responsible for covering the amount of that transaction.
Cox says following larger, tier one merchants, SMB merchants are becoming more aware of the transition to EMV chip cards. “You wouldn’t expect them to be first movers, but they are looking for solutions,” she says. “It’s an opportunity to educate them.”
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