startuplawblog.com

startuplawblog.com

Startup Law Blog | Thoughts and commentary on the law of startups. October 1 is right around the corner. Merchants, retailers, hotels and restaurants: are you ready for what’s in your customers’ wallets? Starting next month, the payment card industry’s transition to chip-and-PIN (also known as EMV) payment cards will take effect. As part of this transition, merchants, retailers, and all other businesses that accept payment cards for in-store transactions are expected to be EMV-compliant – including replacing their old magnetic stripe-only point-of-sale (POS) devices with EMV-enabled terminals that are capable of authenticating the payment card with its integrated chip – by October 1. Businesses that are not certified as EMV-compliant by the October 1 deadline face a shift in liability and may be required to bear the costs for all card-present counterfeit fraud losses in their stores. In addition, some payment card issuers may shift liability to businesses on October 1 for purchases made with lost or stolen chip-and-PIN cards where the POS terminal
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Other information

Domain.com creation: 28 July 2010 expired: 28 July 2016
Used CMS WordPress

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