Heard about EMV (Europay, Mastercard, Visa), but you’re not sure what’s real and what’s not? Be aware of these common myths surrounding Europay, Mastercard, Visa and stay in control of when and how you want to implement EMV in your store.
While a shift to EMV – ready POS terminals has been well under way for years, there are still a lot of myths remaining about this secure payment technology. So to help you separate fact from fiction, we have gathered the 10 most common misconceptions told about Europay, Mastercard, Visa and debunked them all just for you. Get the facts, now!
On October 1, 2015, a liability shift occurred relating to who is responsible for paying for charge-backs for counterfeit cards that are used at a retail store. Between the bank that issued the credit card, the retail store and the payment processor, whoever is least prepared to accept EMV-enabled payment cards is now responsible for paying for the charge-backs.