EMV Liability Shift: Everything You Need to Know (Infographic)

EMV is creating a more secure payment process for businesses across the globe. Let’s take a look at the details of the new EMV chip.

The infographic in Plain Text

What is EMV?

EMV, commonly known as ‘Chip & PIN’ or ‘Chip and Signature’, is a technology to replace the magnetic data stripe on the back of credit cards. It is a small microchip embedded on the front of the card that is very hard to duplicate

The US Has a Fraud Problem

  • The goal of EMV is to reduce credit card fraud/
  • The US is one of the only remaining countries in the world that still uses magnetic stripes to swipe credit cards
  • Nearly half of all credit card fraud now occurs in the USA, even though only 25% of transactions take place here.

World Wide

  • 85% of card present transactions in Canada are now Chip & PIN
  • 76% of point-of-sale devices active globally (except for the US) accept EMV cards. Debit card fraud has dropped to record lows since the peak in 2009.
  • 40% Canadian dollar losses due to card skimming declined by nearly 40% in 2011 after EMV implementation in 2010
  • Europe migrated to EMV in 2006. 97% of card present transactions in Europe are now Chip & PIN

Debit and Credit Card Fraud has dropped to record lows in regions of EMV implementation since the peak in 2009

October 2015 Liability Shift

  • The EMV liability shift took effect on October 1, 2015
  • Retailer Compliance
    • Starting then if you swipe a fraudulent credit card and you are not setup to take EMV chip card, the banks will make you responsible for the fraudulent charge.
    • If the card is stolen, but you processed the transaction using the Chip & PIN, the bank will take responsibility for the fraudulent charge
  • eCommerce Compliance
    • The liability shift does not impact card-not-present (ecommerce) transactions. ­­­The policies in the place for manually keyed transactions have not changed

US EMV Market

  • Retail Terminals
    • 7 Million merchants that will be EMV compliant by the end of 2015
    • 12 Million estimated point of sale terminals to be upgraded for EMV acceptance
    • 181 thousand EMV retailers
  • Chip Cards
    • 600 Million totals projected EMV cards by the end of 2015
    • 2 billion Estimated debit and credit cards await an upgrade to chip card technology
    • 120 Million already EMV

Get EMV Ready Today

  • Don’t expose your business to the October liability shift
    • Most major processors now offer EMV equipment that will process Chip & PIN and Chip and Signature cards for you. Contact Helcim today for a free savings estimate.
Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on facebook
Share on twitter
Share on linkedin
Share on email
prorated billing helcim

What is Prorated Billing?

What Does Prorated Mean? The term “prorated” or “pro-rate” stems from the Latin pro rata which roughly translates as “in proportion to” in English. Prorated

Contact Us​.

We’re Always Happy to Help!

Our in-house team of Merchant Experience Specialists are here to share their knowledge, answer your questions and point you in the right direction. No commissions, no pressure.

New to accepting card payments? Many of our merchants are first time business owners who are unfamiliar with the industry. We take the time to help you understand how it all works as well as how to avoid common pitfalls.

Get In Touch

Toll-Free: +1 (877) 643-5246


Calgary Head-Office:

Suite 400 – 440 2 Ave SW

Calgary, Alberta T2P 5E9

Seattle Office:

Suite 4200 – 701 5th Avenue

Seattle, Washington 98104