22
I
t's been a year since the U.S. migrated
to EMV (Europay, Mastercard, and Visa)
technology, and more than 1 million businesses
now use EMV chip-embedded credit card
readers. Unfortunately, criminals are taking
full advantage of businesses that haven't fully
switched, leaving them vulnerable to costly
chargebacks.
Indoor sports facilities are vulnerable to
counterfeit, stolen, and cloned credit card
activity, but it's much more apparent now
that liability for these fraudulent charges has
shifted to merchants not using the most up-
to-date technology. Formerly, card issuing
banks bore the risk of fraud, and you may not
have even known about it. Now, however, your
business, and livelihood, is at risk.
If you haven't enabled EMV chip-reader
technology in your facility, here are even more
reasons you should:
Criminals prefer magstripe
If a credit card doesn't have a physical EMV
chip (a magnetic stripe-only card), the data on
the card may still fall under the EMV standard.
EMV LIABILITY SHIFTS
By: Georgia Stavrakis, CPP
