Online Merchants Impacted by EMV Payment Changes
Oct. 1 represents the deadline for most merchants to accept Europay, MasterCard and Visa (EMV) chip-equipped credit cards at their terminals. Should a merchant only process payments with the familiar magnetic stripe reader, and end up taking a counterfeit card, liability for that transaction falls upon the merchant. At first glance e-commerce pros may see this as an issue only for their brick-and-mortar counterparts. However, several industry leaders told EcommerceBytes how the shift to EMV on the physical side could bode ill for online sellers.