EVM Enabled Payment by NCR
On October 1, a liability shift is occurring as it relates to who is responsible for paying chargebacks for EMV issued fraudulent cards that are used at a restaurant. Between the bank that issued the credit card, the restaurant and the payment processor, whoever is least prepared to accept EMV-enabled payment cards will now be responsible for the chargebacks.
Don’t know what EMV enabled payments are?
EMV is not a mandate. No government agency or industry association is requiring you to implement EMV. Be careful not to make a rash decision and implement the wrong solution for your business.
As the October 1 liability shift approaches, some owners are rushing to implement EMV without considering its effect on their operations. Others are waiting to see which payment innovations take hold and what their customers prefer.
The rise in data security breaches and fraudulent card use can significantly impact your business. Is P2PE the best way to go, or is EMV? Perhaps the best solution is yet to come.
Before making any decisions, carefully consider how these disruptive trends impact your business:
– The rise of data security threats
– The impact of fraudulent cred card usage
– The emergence of mobile wallets
We are also hosting a free webinar Thursday, September 17, 2015 at 2pm (eastern daylight).
Register now and learn how EMV enabled payments will impact restaurant operations and what steps they need to take to make an educated decision about implementing a payments security solution.