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What is EMV and what am I supposed to do about it?

Last updated 2 years ago

Your business may have received notices about your equipment needing to be upgraded because it doesn’t meet EMV standards.... what does it mean? EMV is Europay-Mastercard-Visa standard... it requires chip cards and terminals that can communicate with those chip cards and if your equipment can't, you may be liable for breach after October 2015. More of an incentive to most small business owners than shifting liability, however, is the idea of losing a sale because your system can't read the chip.  Before you invest in an expensive new system, or worse, overpay by leasing for 10x the cost of a terminal, make sure you review all the facts regarding EMV-ready equipment. merchantadvocate.com

 

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