Connect with us

Headlines

Chip-Enabled Debit Cards Increase Fraud Liability for Small Biz Merchants

mm

Published

on

 

Only half of business owners have upgraded their card processing systems, according to survey.

Small business owners are facing increased fraud liability as a result of the new EMV chip card technology in credit cards, Property Casualty 360 writes. The article explains how merchants were given a deadline of Oct. 1, 2015 to start using new point-of-sale credit card terminals that would accept the chip-enabled cards. From that point forward, any business that did not upgrade its payment terminals became liable for any instances of credit card fraud. This article outlines additional scenarios in which the merchant is now liable.

On a related note, Wells Fargo surveyed business owners regarding their attitudes about chip-enabled cards. Forty-eight percent of respondents said that their credit card processing system is currently chip-enabled, while an additional 22 percent plan to upgrade in the next six months. Twenty percent say they never plan to upgrade their systems.

Read more at Property Casualty

Advertisement

SPONSORED VIDEO

SPONSORED BY ESSILOR

Introducing Crizal® Rock™

Did you know three out of four people wipe their lenses on their clothes?* Or that one out of three people accidentally drop their glasses at least once a week?* It's no surprise, then, that 93 percent of wearers consider scratch-resistance an important characteristic when choosing lenses.* To prove the durability of new Crizal Rock lenses, we ran tests inspired by real life situations. To learn more about new Crizal Rock, the most scratch-resistant Crizal No-Glare lenses ever made, visit EssilorPRO.com/Crizal-Rock. *Study conducted by ⒸIpsos - Risky behaviors of eyeglass wearers - consumer quantitative research 2019 - declarative results - USA - n= 2345 eyeglass wearers

Promoted Headlines

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular