Big Sky Commerce

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The prospect of shouldering greater responsibility for $8.6 billion in credit card fraud losses each year is a powerful motivator for merchants and banks to adopt EMV card technology, yet the Oct. 15 deadline has already passed and a large percentage of them are still noncompliant.

"Businesses that have not integrated EMV technology to process chip cards will become financially responsible for fraudulent transactions previously covered by the cardholder’s issuing bank."

Investing in new payment terminals could save merchants large sums of money in the future.

Local merchants are also getting prepared for the switch to avoid being liable if fraud is detected in their store.

Beginning Oct. 1, merchants that have not updated point-of-sale devices to recognize chips will be held liable if there is fraud at the register in the store if the bank has issued cards with chips. Whoever has the older technology is liable for fraud. If both the bank and the retailer have updated their technology, the liability falls back to the bank.

Businesses of all sizes face an Oct. 1 deadline to get new card readers and software that can handle chips. "Most people are definitely going to need to hire somebody to do it."

By autumn, millions of Americans will have made the switch from the old magnetic strip cards. Is your company ready to process them?

Starting October 1, 2015, the liability for fraudulent card-present transactions made at the point of sale will shift to the entity without EMV-enabled technology.

1,400sq ft newly-finished office space @ 2809 Connery Way Ste B, 2nd floor portion of the Big Sky Commerce building, in the Hellgate Meadows business area behind Home Depot.