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EMV liability switch
WHAT IS EMV CHIP TECHNOLOGY?
www.gravitypayments.com
On October 2015, Visa, MasterCard, and American Express are shifting over card-pres-ent liability to whoever is the least EMV-compliant party in a fraudulent transaction.
If a fraudulent transaction were to happen at your place of business after October 2015 and you were NOT equipped with EMV technology, the cost of fraud would now fall back on you.
The future of credit card and debit card transactions to help increase security, reduce fraud, and support future value added applications
Every customer’s card will be em-bedded with a microchip that stores and protects their data better than a magnetic stripe.
For every new sale, a custom-er’s chip card uses a new en-cryption code making each and every transaction more secure
WHAT IS THE LIABILITY SWITCH?
HOW WILL THIS IMPACT MY BUSINESS?
Contrary to what you may have been hearing, as of right now and up to October 2015:
Your current technologyis NOT out-of-date
Your current technologyis NOT illegal
Your current technologyis NOT being fined
We’re equipped with necessary technology for your terminal to support EMV payments. We’ll advise you on equipment upgrades as the time grows near and support you when the time is right for your business. If you have more questions, give us a call at (866) 701-4700 or go to www.gravitypayments.com/contact.
SHOULD I BE WORRIED RIGHT NOW?
#1The U.S. has the most credit card
fraud in the world
$5BAmount of U.S. card fraud losses over the
last year
24%Amount of credit card
transactions the US makes up worldwide
50%Fraudulent credit card
transactions the US is responsible for
worldwide