For restaurants, EMV compliance and the liability concerns around EMV have not gone away in 2018. It’s been over two years since the EMV liability shift took place. For the last two years, whether they understood EMV compliance or not, payment processors are now holding restaurateurs liable for fraudulent charges. With 70% of the credit cards in the U.S. having EMV chips, and 76% of the world’s payment terminals being EMV compliant, you can’t hide from these three letters.
While EMV compliance is not required by law, your restaurant should know what it could be on the hook for, and the actions you can take today.