Hi Businesses! The Credit Card Theft Burden Shift happens today!

Hi Businesses! The Credit Card Theft Burden Shift happens today!

Are you a business? Or a consumer that has started to notice how all your credit cards have little chips on them now?

Screen Shot 2015-10-01 at 11.38.03 AM

As ABCNews has pointed out, as of today, the burden of, ‘who is responsible for fraudulent credit card charges’ has shifted today for all businesses if the following points are met.

Your business will be responsible for the fraudulent charges if you say yes to the following situation.

  1. Your customer has an EMV credit card,
  2. You do NOT have an EMV reader and they have to swipe their EMV credit card,
  3. The credit card is a Visa, Mastercard, or Discover, (AMEX is giving businesses till Oct 17.)
  4. Your company is NOT a gas station, (you have until Oct 1, 2017)

Enjoy.

 

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Walter Marrero 228 posts

An executive analyst at an elite technology & business focused publication.

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