EMV in the US: Fraud Liability Shift

What is EMV

Excerpt:

Starting on October 1, 2015, the liability shifts to businesses for fraudulent chip card transactions. This means if you accept a chip card with a magnetic stripe reader, you'll be responsible for the cost if the transaction is fraudulent.

Comment: Image capture from above link. EMV has been, with Apple Pay, the top projects of my wife who is a SME on EMV.