Since October 2015, businesses without EMV-enabled processing devices have been at risk of fraudulent chip card transactions, leading to something called the ‘liability shift’, which we’ll get to later. That means, as a business which accepts card payments, you may need new processing devices to read the information on EMV cards. It’s a move that’s designed to reduce credit card fraud and make payments as efficient as possible. So, let’s get them answered, shall we? How will EMV affect my business?īanks are now issuing most of their credit and debit cards with EMV chips. And that probably means you’ve got lots of questions. If you’re running a hospitality business, guests will present EMV cards on a daily basis. Developed by American Express, Discover, JCB, Mastercard, UnionPay, and Visa, EMV is a global standard for credit cards which use chips to process transactions.
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