The SBA has resources to help small businesses with a payment technology revolution that’s coming soon – EMV chip card payments. Here’s what they say about it:
For merchants and financial institutions, the switch to EMV means adding new in-store technology and internal processing systems. To get chip-enabled for your business, contact your acquirer or payment services provider.
The switch to EMV also means a change in liability for credit card fraud. Today, if an in-store transaction is conducted using a counterfeit, stolen or otherwise compromised card, consumer losses from that transaction generally fall back on the payment processor or issuing bank, depending on the card’s terms and conditions.