EMV Compliance: Avoid Chargebacks!
- Tom Modeen
EMV Compliance Limits Financial Liability to the Retailer!
Retailers are experiencing the pitfalls of not being chip card ready. Best practices for handling credit card transactions can reduce potential penalties, but EMV compliance is the real answer.
Six months after the credit card fraud shift, retailers who had not implemented chip card technology were experiencing a larger number of chargebacks than they expected. A payment network reported a 50% increase among some 250,00 merchants who had not planned implemented EMV compliance. If a retailer has not upgraded to EMV terminals, they will be liable for majority share of the chargebacks that the banks were previously absorbing.
Point of Care Systems has worked diligently this year to provide a solutionfor our customers.
This solution led us to a partnership with Heartland Payment Systems to provides secure EMV PCI Certified enviornment to process all credit card transactions securely.
Heartland Payment Systems held a conference on EMV chargebacks and what retailers need to do to avoid the pitfalls.
See more at::What You Need To Know About EMV and Chargebacks