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Your terminal has a slot, but that doesn’t mean you can accept chip cards

Members have already reported chargebacks since the October 1, 2015 EMV liability shift. Many merchants mistakenly believe since there is a chip card slot on their terminal, that they are all set to accept chip cards and avoid liability for fraudulent cards. This is not the case. Your processor must set up your terminal with the appropriate software download, or you may need a new terminal altogether.

One Retail Council member recently had a chargeback for $182.50 after a customer disputed the charge. That member is liable for the $182.50 because he accepted a chip credit card as payment, but his terminal was not EMV (chip card)-enabled.

If you do not have the correct software on your terminal and you swipe a chip card, the terminal will not prompt you to insert the card. It will process the card just like any other mag stripe card, but you will be liable for any fraudulent charges.

Contact Michele or Nicholl with your questions about EMV terminals at (800) 442-3589.