EMV ‘Chip’ Credit Cards

EMV ‘Chip’ Credit Cards

Today, October 1st, is the deadline for banks and merchants to accept EMV payments or be liable for fraudulent activity. EMV, which sands for Europay, MasterCard, and Visa, is referring in this instance to the new chip-enabled credit cards. The chip is essentially replacing the magnetic strip, and will need to be inserted into a reader instead of swiped. A majority of Americans, both consumers and merchants, are not even aware of today’s deadline or the coming requirements for chip-enabled credit and debit cards. I have linked an article below to tell you more about what chip-enabled cards are, and what today’s deadline means. Intuit is shifting the deadline for liability for those using Intuit merchant services by six months. An article below details more about Intuit’s guidance on the new standard. To learn what this means for you and your business, contact me and schedule a consultation to learn more and ensure you are prepared for this new change in payment processing.

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