Regarding CANADA: keep your eye on your interface for CANADA merchant roll-out info!
From Top Merchant-gatherer RICK ANDERSEN: for Pivotal MONTH-TO-MONTH app (no ETF) use the first app in Pivotal section of interface (bottom left side says M2M = you got the right one).
SAVE JUNE 20, 2015 11-3 pm DWP OVERVIEW + TRAINING American Canyon, CA
Regarding what happens to merchants who don't EMV after Oct. 1, 2015 (thanks Top Leaders WAYNE & ANGIE HARRINGTON for spotting this):
What Happens If I Don’t Migrate to EMV?
If you don’t complete your migration to EMV-capable terminals before Oct. 1, 2015, then the party with the least-secure infrastructure is liable for any credit-card fraud committed at your business. In this case, “least-secure infrastructure” means least EMV-capable.
This liability shift applies to fraud originating from both counterfeit credit cards and those that are lost or stolen.
In today’s pre-EMV world, issuing banks assume any liability if fraud originates from a counterfeit, lost or stolen credit card. After the October deadline, that liability assumption shifts to the party with the least-secure means of accepting payment.Consider this typical example from before 10/2015:
A patron uses a magnetic-stripe card at your business to buy $300 worth of goods. Upon reconciling your receipts for the day, you are notified that the goods were purchased with a counterfeit card, resulting in a fraudulent purchase. Because it’s the issuer that backs up the creditworthiness of the card, the issuer of that account will reimburse you with the original purchase amount.But time marches on, and the issuing bank, your acquirer and your payment processor have all migrated to EMV. Here’s what happens when you don’t have an EMV-capable terminal after 10/2015:A patron uses a magnetic-stripe card at your business to buy $300 worth of goods. Upon reconciling your receipts for the day, you are notified that the goods were purchased with a counterfeit card, resulting in a fraudulent purchase. The issuer, acquirer and payment processor each have migrated to an EMV system, and your business is the only part of the chain that hasn’t migrated. Because of that, your older, non-EMV terminal didn’t catch the counterfeiter. Because your business is the weakest link in the payment chain, you’re responsible for assuming the $300 fraudulent cost.
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Click for EMV countdown clock.
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