How does EMV affect my transactions?
Instant Accept will be EMV compatible and will affect only Card Present transactions. If you use Instant Accept for online, phone or keyed transactions, then your business will not be affected. If you’ve never had issues with fraud in face to face transactions, chances are that you are unlikely to have to deal with it in the future.
Both Visa and MasterCard have set a deadline for making the change to EMV credit card processing for October 2015. After October 1st, there will be a shift in liability for responsibility for fraud losses from the card issuer to acquirer/merchant. Your decision to convert to accepting EMV will be based on your business needs. Of course, your business needs may differ from other businesses. Your business needs will play a determining factor on whether or not you want to move forward with transitioning to EMV.
You have two options that you will need to be considered when moving forward with your decision to accept EMV. One, you can continue to do business as you are now with the understanding that by continuing to accept card present transactions as you are today you will be required to accept the liability for fraudulent transactions. Or, two, you will convert to EMV, which will require you to purchase a new compatible terminal.