BFA-Credit-Card

October 1st Deadline for Transition to EMV Credit Card Processing

Does your small business accept credit cards? The transition from mag strip cards to chip cards is underway in the US. It’s a very big deal for merchants and financial institutions because the new EMV chips are much harder to counterfeit or copy and they have advanced security features for in-store payments that make every transaction unique. The switch to EMV means many small businesses will need new in-store technology and internal processing systems. It also means a change in liability for credit card fraud beginning on October 1st. Are you ready? Click here for more information from the Small Business Administration.