If your customer has a chip card and you fail to use the chip, the customer can claim fraud and you have no recourse. That’s a pretty expensive way to learn about EMV. Now you’re out $1,000 and you’re also out $1,000 worth of widgets.

Every bank has updated all credit cards to have the chip. There are very few NON CHIP cards still left and if there are, they are going to be expired soon. Be forewarned, if you swipe a chip card, you are risking losing the money and watching the product walk right out your door without being able to do anything about it. That is the basis of the EMV Liability Shift.

The liability is now on the merchant if a chip card is presented and not used. Why haven’t you upgraded every machine in your business to an EMV capable terminal. They are not cheap, but they are less than $300. Or, maybe more in your budget you could get a pin pad that is EMV compatible for $135 or so.

Has your credit card company told you about your liability in this? If not, why not? Someone is waiting, hoping you make this mistake. Some criminal is checking out your business today.

If you still don’t have an EMV compatible terminal, get one. And maybe you should be asking, why isn’t my credit card company taking care of me like Ed is?

But then, I am I am, Ed Craft, your credit card guy, but you can call me, The Credit Card Answer Man.