Will you be ready for the EMV Mandate come October 2015? This will be a major milestone for companies in the United States, as we are one of the last to roll out this mandate. EMV stands for Europay, Mastercard, and Visa, and is a fast growing chip technology that is quickly becoming the global standard for credit card and debit card transactions.The purpose of the EMV mandate is for security and to reduce fraud and October 2015 is the deadline for all card issuers and retailers to adopt EMV technology, or else they will be liable for all fraudulent activity. This means issuing new chip-enabled cards and investing in new POS systems that will accept these cards.
Check out this EMV Infographic which explains why the EMV mandate is so crucial and why you need to be prepared for it.