Are you ready for EMV? On October 1, 2015, EMV will take effect. Does this mean your terminal will stop working? Are you being threatened by not being able to accept credit cards? Although, it is a major change in how processing and liability is handled, it's ok to breathe! From, September 30 to October 1, your current credit card machine will not stop working.
Counterfeit liability shifts to merchants if a Non-EMVenabled POS device is used for a card-present EMV chip transaction, except for automated fuel transactions and ATMs (excluding previous liability shift for International Maestro ATM transactions)
Liability for lost or stolen cards shifts to merchants using Non-EMV-enabled POS device for a card-present EMV chip transaction, except for automated fuel transactions
Liability for lost or stolen cards shifts to merchants using, 1) Non-EMV-enabled POS device or, 2) EMV-enabled POS device that does not support PIN for a card-present EMV chip transaction, except for automated fuel transaction.
What does this mean to you? It means card issueres have already started producing cards with chips in them. After October 1st, if you are presented with this type of card, to keep the liablility from coming to you, the merchant, you must have a machine or PIN pad that can read this card with chip. If you don't have a machine that can, you can still swipe the card for the sale. However, if there is a problem with the card later, YOU will be held liable. Not VISA, MasterCard, or Discover. On stolen or counterfeit cards, you will have no recourse to get your money back.
Information & Quick Reference Guides
You will need to have a free version Adobe Acrobat Reader to read the following pdf's. The following guides are from the manufacturers and may or may not include programming in your terminal. It is strongly recommended you call your processor for availability of some functions and programming. Credit card equipment has a preloaded operating system in it. Each Processor downloads their own application. Buttons and procedures can change from Manufacturers default guide. This especially will affect and include the generic QRG's (quick reference guide) below.