How the new Chip and PIN mandate will impact your financial institution
FINANCIAL INSTITUTIONS INSIGHTS |
The announcement by card brands (VISA, MasterCard, Discover, American Express and JCB) of the planned liability shift in October 2015 for fraudulent payment card transactions has created a lot of confusion in the industry for merchants, acquirers and issuers (financial institutions). This confusion has paralyzed some organizations into taking no action. However, the card brands have been clear, and have reaffirmed as recently as early this month, that requests for a delay of the implementation will not happen, and the liability will shift in October 2015. What will this mean to your financial institution? What communications should you be having with your merchant clients?
Our latest white paper, The true impact of Chip and PIN: Separating fact from fiction, will talk a bit about the EMV technology, how it works and the goals and drive of the liability shift. Learn key information necessary to make informed decisions on how to minimize risk for your institution.