This document debunks several common myths about EMV (Europay, Mastercard, Visa) technology. It discusses that merchants can still accept magnetic stripe credit cards even if they are EMV-ready. EMV compliance requires more than just new payment terminals - merchants must work with their payment processors to ensure they have the right terminals and train their staff on EMV. While EMV can strengthen data security, it does not guarantee PCI compliance on its own and merchants still need to take active steps to protect customer payment data. EMV protects against fraudulent credit card usage but not all data breaches, and lack of EMV compliance does not automatically make merchants liable for fraud - liability depends on who is unable to process

1. COMMON MYTHS
ABOUT EMV
Merchants and customers alike may have questions about what
exactly EMV (Europay, Mastercard, Visa) technology means for
them. This guide debunks some of the most persistent myths
about EMV.
Myth No. 1: Accepting EMV means merchants can no
longer accept traditional magnetic credit cards.
Fact: Although EMV is a different form of authentication
than magnetic stripes, EMV-ready POS systems still
accept magnetic stripes. Merchants don’t have to fear
alienating customers whose banks haven’t issued EMV
cards yet.
Myth No. 2: EMV compliance is a matter of simply
switching out payment terminals.
Fact: It’s true that EMV-ready terminals are a key
component of EMV compliance, but they’re not
the whole story. Merchants must talk about EMV
compliance with their payment processors and
understand which types of payment terminal devices
are appropriate. It’s also important for merchants to
train their staff to understand EMV and be ready to
assist customers.
Myth No. 3: EMV compliance is required for PCI Data
Security Standard compliance.
Fact: PCI standards don’t include switching to EMV.
Simply switching to EMV will not make merchants
PCI-compliant in and of itself. EMV can strengthen
merchants’ data security, but merchants remain
responsible for adhering to PCI security standards
as they have done in the past.
Myth No. 4: EMV completely protects merchants
from all data breaches.
Fact: EMV cards protect merchants from fraudulent
credit card usage, but it can’t do everything to keep
data safe. Merchants still need to take active steps
to protect themselves and their customers — including
encrypting credit card data as it passes through
their networks.
Myth No. 5: If merchants are not EMV-compliant, they
are liable for all fraudulent transactions.
Fact: Although being EMV-compliant protects
merchants against fraudulent card transactions, they
are not automatically liable if they aren’t compliant.
Liability belongs to whomever is unable to process EMV
transactions. This may mean the card issuer is liable if
it does not issue EMV-capable cards, for example.
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