Checklist: Essential Steps to Chip-and-PIN Migration
With the EMV mandate passing in October 2015, merchants who have still yet to comply are now liable for credit card fraud. 600 million EMV cards, also known as Chip-and-PIN, are now in circulation as of the end of 2015, meaning retailers that have yet to comply will need a quick pathway to prevent liability.
In addition to the potential liability for not complying, retailers have a variety of reasons to implement EMV encryption. Most notably, it protects cardholder information with each transaction from the moment the card is inserted and information is then transferred through the payment process.
When seeking out a path to EMV compliance, there a few steps to consider. To assist in that process, we’ve developed a detailed checklist for retailers still looking for the means to implement EMV technology.