This month, fraud liability rules are changing. Is your business ready?

The EMV® mandate is here.1 If you haven't already, now is the time to plan a strategy to prepare for this change.

October 1, 2015

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So the October liability shift has arrived.

At a high level, this shift places the liability for counterfeit fraud on the entity who has not implemented EMV technology or the entity who has implemented the lowest level of EMV technology in the case of lost, stolen and counterfeit fraud. This is a shift from the today’s commonly used magnetic stripe scenario where the issuer is responsible for the fraud.

At Bank of America Merchants Services, we understand that you have many needs for your business and that you may not have implemented EMV yet. Just because the liability shift is here doesn’t mean there still isn’t time for you to take action. We see the EMV transition happening for many businesses over the next 24 months. We do encourage clients to get the ball rolling and engage in a discussion – if you have not already – about what your company’s migration plan should look like.

We believe that the adoption of EMV technology will accelerate as the consumer becomes more educated about card security. The consumer perception of EMV will likely shift from a “nice to have”, to “the security I demand.” Bank of America Merchant Services welcomes the opportunity to consult with every merchant that wants to be EMV compliant and assist them with the transition in a timeframe that makes sense for their business.

This is a good time to consider a new POS system.

Bank of America Merchant Services point-of-sale solutions, including Clover™ Station, are EMV-compliant.2 We can help you take a fresh look at modernizing your POS system to maximize what it can do for your business, and help you evaluate if our other products and services may benefit your business.

EMV Resource Center

Existing Customers

Not a cutomer yet?

We’re here to help you plan a POS strategy for your business – so you’re confident and ready for EMV.

Contact your Bank of America Merchant Services business consultant to learn more.

Call 855.833.3610

Not a Customer Yet?

Not a cutomer yet?

Don’t get stuck with the bill for fraudulent charges.

If your point-of-sale-system doesn’t read EMV chips, you may be liable. Fortunately, we offer point-of-sale systems that read EMV chips.

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Complete the following short form and a member of our team will be in touch within the next business day. To speak with a business consultant, call 855.833.3610.