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Sep 30, 2015

Starting this Thursday, October 1st, merchants will be held fully liable for any losses due to credit card fraud if they haven’t made the switch to EMV cards. EMV, which stands for Europay, MasterCard, Visa, are credit cards equipped with computer chips. They are considered much more secure than magnetic strip cards. Plus, the EMV card is standard in many parts of the world.

What does the October 1st switch mean?

October 1st marks the “liability switch.” By this date, retailers and merchants are expected to process the transaction with a chip reader instead of the magnetic...