August 12, 2015 – On October 1, 2015, the EMV Liability Shift, announced by Visa, MasterCard, Discover, and American Express back in 2011 and 2012, will take effect in the United States. Issuers and merchants using non-EMV compliant devices that choose to accept transactions made with EMV-compliant cards will be required to assume liability for any and all transactions that are found to be fraudulent.

Over the past few years, the major credit card issuers have announced plans to move toward full EMV-standard compliance, marking several milestones along the way. Visa and MasterCard, for instance, announced PCI Audit Relief back in 2012, and anticipate an October 2017 compliance date for fraud liability at automated fuel dispensers.

The looming question remains whether or not financial institutions and other retailers will be ready to both issue credit cards and accept chip-and-PIN-enabled cards. Last year, the retail giants Home Depot, Target, Walgreens, and Wal-Mart, some of the victims of recent cybersecurity hacks and massive identity theft, pledged to install chip-and-PIN compatible card readers by this  past January, and for the most part this has been the case.

However a recent Gallup has shown that only 32% of small business owners in the United States are aware of the coming liability shift, and those who are aware are hesitant to invest in the new technology, even if it means that credit and debit card transactions will be safer and more secure.

Edcomm Group Banker’s Academy helps financial institutions and organizations alike to weather banking and financial changes such as these with efficient eLearning delivery systems and robust course offerings, such as EMV, a course which analyzes and discusses the implementation of EMV technology in the United States.


Payments Leader. “Will Retailers Be Reader for EMV by Oct 2015?” Payments Leader. Payments Leader, 16 October 2014. Web. 12 August 2015.