Avoid Counterfeit Transaction Liability with EMV

Important Information That May Affect Your Business.

What is EMV?

EMV (short for ”EuroPay, MasterCard, and Visa”), is a credit card security system.

EMV utilizes a microchip embedded in the credit or debit card. When the card is presented, the chip generates unique data for each new transaction, allowing the ability to verify card authenticity. This combined with a PIN or signature requirement to verify the cardholder, provides greater security and reduces fraud risk.

EMV has been widely used in Europe for several years, and the U.S. Card Associations are now taking steps toward making EMV the standard card payment type. This switch will require substantial changes be made by financial institutions, payment networks, card issuers, payment processors, and businesses.

Learn more in the EMV FAQs

How does EMV affect my business?

Some businesses may need to upgrade their point-of-sale equipment to newer equipment that supports EMV technology. If merchants do not support EMV acceptance by these deadlines, they will assume financial liability for counterfeit transactions.

The EMV acceptance timeframes are as follows:

  • October 2015 for general merchants to accept EMV for card-present point-of-sale (POS) transactions. 
  • October 2017 for automated fuel dispenser merchants or pay-at-the pump card readers to have EMV acceptance capabilities.

California Bank & Trust wants to help prepare your business for this transition. If you have any questions, please contact your local banker at (800) 355-0507.

For detailed information, click here to view the EMV Frequently Asked Questions (FAQs).

Merchant Services products and services are provided directly by First Data Merchant Services Corporation, subject to its approval, and not by California Bank & Trust. All trademarks, service marks and trade names referenced in this material are the property of their respective owners.