Liability Shift in Credit Card Processing Accounts
If your business takes credit cards, there is an enormous change regarding responsibility for fraudulent activity that will go into effect on October 1, 2015. Currently, fraudulent activity is the responsibility of the card issuing bank or processor. As of October 1, 2015, this will change, and any fraudulent activity that runs through your machines will be your responsibility unless you have updated equipment that is EMV-compliant. At present, 9 out of 10 machines are not in compliance.
This change in policy will happen and for those who are unaware and unprepared, the consequences could be enormous. Please take a moment to make sure you are in compliance. I would be happy to assist in this process.
Please see the attached article from Crain’s Wealth: http://www.crainswealth.com/article/20140507/WEALTH/140509921
Michael Christl was today’s featured blogger.
If what he wrote concerns you or your business
in regards to credit card processing in any way
please contact him through C2C Enterprises, LLC at
email@example.com or 800-369-8551