Today, October 1 2015, is going to be a bad day for small businesses with the old swipe-only credit card readers. <\/p>\n
Effective today, all merchants in the U.S. will be held liable for ANY fraudulent transactions that take place in their business if they are still using the “old” swipe-only credit card readers. <\/p>\n
The shift, called the EMV initiative, mandates all simple-swipe readers need to have been retired or disabled by today, and new card readers that allow for the insertion of chip-embedded cards must be in place instead. No exceptions. <\/p>\n
While big companies like WalMart and Target have had these card readers in place for over a year now, any small business or mom & pop shop that missed the memo from their credit card processors are in for a devastating surprise the next time they contest a false charge or are hit with a massive chargeback from their credit card processing company.<\/p>\n
If you see any small businesses with the old swipe-only readers, or if you know anyone running a small business with a swipe-only card reader, tell them to talk to their credit card processing company ASAP to get an upgrade to a chip-reading card reader. They are much more expensive than the plain swipe-only versions, but the liability risk is now FAR too high to ignore.<\/p>\n
You can also send them the discussion about the EMV initiative<\/a>, the terminal types now required<\/a>, the liability shift concern<\/a>, and how big a pain this has been to adopt<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Today, October 1 2015, is going to be a bad day for small businesses with the old swipe-only credit card readers. Effective today, all merchants in the U.S. will be held liable for ANY fraudulent transactions that take place in … Continue reading