3 Reasons to Become EMV Compliant from Lessons Learned

EMV technology was implemented in 2015 to decrease the risk of fraud for card users, however there has been significant impact to business owners as well. Small businesses have seen a 38% increase in chargebacks this year with a large portion of that attributed to not appropriately implementing EMV technology. Here are three reasons to become EMV compliant:

1.  With EMV technology laws, if the card is swiped and not run as a chip, the business is now held liable for additional chargebacks.

2.  Businesses are being targeted by malicious card holders who will notice if the business is not using EMV technology and then fraudulently charge back their purchases.

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3.  Customers are taking note and choosing to shop at businesses that take their financial security seriously and prefer to shop at EMV enabled stores and restaurants.

Fraud will never be completely eliminated, however you can help protect your company from fraud and chargebacks by fully implementing EMV technology.