The EMV liability shift — otherwise known as the chip card liability shift — for all ATMs begins on Oct. 1, 2016.
This liability shift means the party responsible for not being EMV compliant will be responsible for absorbing the cost of a fraudulent transaction performed at the ATM. Since processors are EMV compliant, it’s up to the owner of the ATM to ensure the ATM has an EMV card reader to protect himself from this liability.
Premier has been a pioneer in this arena. We began installing our first EMV upgrade kits in 2014, and have nearly all of our entire fleet upgraded to date.
In case your wondering about the effect of this liability shift, here’s a story from Bloomberg News outlining a likely scenario about limiting the number of ATMs for customers to use.
If you would like to upgrade your ATM or want to know if your ATM is upgraded or not, please contact us at 855-764-2867.