FAQ Eight Frequently Asked Questions About the Liability Shift What is the liability shift? Be sure to talk with your lawyer and/or financial advisor to learn more about the liability shift and how it affects your business. This article does not constitute legal advice. We’ll walk you through what you should know about the liability shift in this guide-as well as what easy steps you can take to help protect your business.
Understandably, this all sounds a little scary, but not to worry. In something called ‘the liability shift,’ the onus for some types of fraudulent charges can now fall on your business if you don’t use an EMV (chip card) processing device when buyers present a chip card. On October 1, 2015, the way banks and processing networks handle certain types of fraud changed. How to become EMV compliant and protect your business.Why we need to accelerate our adoption of EMV.Why we need to phase out magnetic-stripe cards.Eight Frequently Asked Questions About the Liability Shift.
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