EMV Deadline – Ready or Not?
By now all US retailers should have a good handle on what EMV is and should be well aware of the imminent October 1st, 2015 deadline. But how ready are retailers?
Ready or not by tomorrow all US merchants that have not implemented the EMV technology will be liable for any counterfeit and fraudulent card transactions.
A recent study by Software Advice found that;
- 78% of SMB merchants still haven’t adopted EMV-ready systems
- 23% of non-compliant retailers say EMV migration is “unnecessary”
- 62% of U.S. consumers are still without an EMV chip-card
So what are retailers waiting for? The ramifications of not complying can not only cause severe financial damage it could cost retailers their brand integrity and the trust and loyalty of their customers. It’s a nightmare scenario for any retailer.
Multidev Technologies Inc. partners with EMV ready middleware and hardware providers that seamlessly integrate with the ChainDrive Point of Sale Software. If you’re one of these retailers that hasn’t adopted the EMV technology and is unsure about the entire process it’s not too late to get started.
Find out how ChainDrive POS supports EMV technology and how we can help you get started with your transition to EMV today.