Merchants should know by now that after October 1st the liability for card-present fraud will shift to whichever party is the least EMV-compliant in a fraudulent transaction. This means that merchants will be more accountable if EMV is not implemented.

Embracing EMV will keep the liability as it is today (credit card company reimburses customers and then seeks restitution from the merchant bank and merchant).

But as it can be seen from the infographic, although October 1st is the deadline that major U.S Credit cards have set, this will be a process for many, especially the small businesses.

As long as a single magnetic stripe card is accepted at a merchant location, their PCI profile does not change from what it was before EMV. Since EMV cards are still vulnerable to compromises, there is no reduction in the PCI standard for a merchant who implements it.

PCI compliance can be a complex labyrinth of requirements and recommendations. Luckily, Lumifi’s team of highly-trained and experienced engineers are here to provide you with the IT support you need at each and every business location.