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EMV 101 for Merchants
2
Agenda
EMV Basics
• What is EMV
• Why EMV
• Liability Shift
• How to Comply
• How to Estimate Liability
• Gravity Paymen...
4
What is EMV?
 Europay Mastercard Visa or Chip/Pin Cards
 Dip not swipe
 “Smarter terminals” lead to less exposure – n...
5
Why EMV?
 Counterfeit credit card losses > $11billion/year
 63% paid by issuing banks - 37% by merchants*
 Banks have...
6
Liability Shift
October 2015 - Applies to card-present counterfeit
fraud on EMV cards ONLY
Before the liability shift – ...
7
HOW TO COMPLY
 Terminals
 POS systems
 Some issuers are sending out cards that are pin
capable
 If both, the card an...
8
How to Estimate Liability
How well do I know my customers?
What are my historical chargeback rates?
How big are my trans...
9
10
WHO WE ARE
The Communities’ Most Trusted
11
To learn more, visit
gravitypayments.com
EMV 101 by Gravity Payments
EMV 101 by Gravity Payments
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EMV 101 by Gravity Payments

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Learn how EMV changes the way merchants accept credit card payments and reduces businesses' liability for fraudulent transactions.

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EMV 101 by Gravity Payments

  1. 1. EMV 101 for Merchants
  2. 2. 2 Agenda EMV Basics • What is EMV • Why EMV • Liability Shift • How to Comply • How to Estimate Liability • Gravity Payments: Who We Are
  3. 3. 4 What is EMV?  Europay Mastercard Visa or Chip/Pin Cards  Dip not swipe  “Smarter terminals” lead to less exposure – not sending the credit card number through the network  Reduce the risk of accepting counterfeit cards – data is harder to copy than that of the magnetic stripe  No change for e-commerce
  4. 4. 5 Why EMV?  Counterfeit credit card losses > $11billion/year  63% paid by issuing banks - 37% by merchants*  Banks have the incentive to require tighter security at the point-of-sale  United States has become “low-hanging fruit”
  5. 5. 6 Liability Shift October 2015 - Applies to card-present counterfeit fraud on EMV cards ONLY Before the liability shift – counterfeit fraud = bank pays After the liability shift – counterfeit fraud 1. Was the card EMV capable? 2. Was the merchant EMV enabled? • Yes/Yes – bank pays • No/Yes – bank pays • Yes/No – merchant pays • No/No – bank pays
  6. 6. 7 HOW TO COMPLY  Terminals  POS systems  Some issuers are sending out cards that are pin capable  If both, the card and the terminal will talk to discuss whether the customer should enter a pin or sign  No requirement for customer to dip on signature transactions How to Comply
  7. 7. 8 How to Estimate Liability How well do I know my customers? What are my historical chargeback rates? How big are my transactions? 63:37 ratio Past performance is no guarantee of future success Don’t be the sick wildebeest
  8. 8. 9
  9. 9. 10 WHO WE ARE The Communities’ Most Trusted
  10. 10. 11 To learn more, visit gravitypayments.com

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