On October 1st, 2015, liability associated with the fraudulent use of counterfeit cards shifts from the card issuer to the acquirer – who is universally expected to shift that liability to the merchant. This shift only applies to merchants that have not implemented an EMV-enabled payment solution. Merchants are only liable for the amount of the fraudulent transaction. It does not affect the merchant’s liability pertaining to data breaches or ‘card not present’ (ecommerce) transactions – where the bulk of stolen cards are used.

For this reason, many merchants who have little risk of fraudulent transactions will likely wait to move to EMV until they’re due for a new Point of Sale, if at all. It’s important to understand that it is not a mandate, just a liability shift. POS providers should be taking on a consultative role to help their merchants determine whether the move to EMV is a good fit for their business.