AMG Newsletter May 2015
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MAY 2015

In case you missed our March newsletter, the biggest industry change you should be aware of is the upcoming EMV implementation.This change will affect your business. In this issue of our newsletter, we are going to cover the more important aspects of the upcoming EMV liability shift and what steps you can take to protect your business.
What is EMV?
EMV stands for Europay, MasterCard, and Visa and is an international standard for authenticating debit and credit card transactions. EMV is the microchip in specific credit cards that sends transaction data to a credit card processor. These chip-enabled transactions do require a special EMV terminal, but are considered much more secure than the current magnetic stripe technology. Countries throughout the world that have implemented EMV have seen fraud rates drop dramatically.
How will EMV affect your business?
Liability for any chargebacks or fraudulent transactions taking place after October 1, 2015 will fall directly on the merchant or bank using the less-secure technology. Should the customer have an EMV card issued by their bank and the merchant does not have an EMV-capable terminal, the liability will fall on the merchant. Along with fraudulent transactions, the liability for chargebacks and disputed charges will also fall on the merchant. If a customer files a chargeback against a merchant that does not have an EMV terminal, the merchant cannot fight the chargeback.
Where can I learn more about EMV?
You can learn more about EMV by reading our official EMV FAQ. If you have further questions or need to purchase an EMV terminal, you may contact us at 1.877.997.9473 or reply directly to this e-mail.

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