For too long, “swiping” a credit card has had at least one meaning too many. There was “swiping” as it pertains to running the magnetic strip of your credit card inside the groove of a small payment terminal to make an...more
On October 1, 2015 the major payment card companies instituted the EMV Liability Shift in an effort to incentivize card issuers and merchants to migrate to using payment cards with embedded chips (“chip cards”) according to...more
Most credit and debit cards in the U.S., and the point of sale terminals and ATMs that read them, still use “magnetic stripe” technology. Magnetic stripes are obsolete and relatively insecure, allowing fraudulent practices...more
October 1, 2015, is the date that many payment networks, including Visa, American Express, Discover, and MasterCard, have set for a counterfeit fraud liability shift. Although that date is just around the corner, many small...more
With the October 1, 2015 liability shift deadline looming, merchants who have not yet made the change continue to evaluate the cost of accepting EMV cards versus the liability that will shift from the issuer to the merchant...more
Major credit card companies, including Visa, MasterCard, Discover, and American Express, have announced plans to switch to EMV cards in the United States over the course of 2015. ...more