Up until now, banks shouldered the cost, but this move to EMV is to reduce the amount banks pay to cover fraud charges. If you don’t comply by accepting the new chip credit cards, by October you will be financially liable for the loss.
Sourced through Scoop.it from: www.huffingtonpost.com
Kenneth Carnesi holds a Juris Doctor degree from New York Law School and a Professional Certificate in International Banking from Harvard Law School. Kenneth Carnesi is the Director of Operations and Government Sales at Anaptyx LLC and sits on the Boards of The Lazarus Organization, Monkeetech LLC and MG Madison Phillips, Inc. Mr. Carnesi has also founded CICG - Carnesi International Consulting Group, a company specializing in strategy consulting to small to mid-size businesses.
Kenneth Carnesi 
Leave a comment