But there is a catch: if the POS system at the business side is not equipped with a EMV terminal, then the transaction will occur as before, through magnetic swipe, with all the credit card information exposed.
That is where liability-shift comes in. If the business (restaurant, retailer, supermarket) has the EMV technology but the card has no chip, any fraudulent charge is the responsibility of the issuing bank or credit card company... The problem is that most small businesses do not know that.
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