2015: The year of EMV fraud liability
If you have been exposed to any debit or credit card discussions at your credit union, it will not surprise you that 2015 is a critical year for those areas—due to the EMV fraud liability shift. From industry publications to educational events and conferences, the topics associated with EMV integration have been front and center over the last several months. Most recently, the debate about whether or not the liability associated with EMV will move merchants to convert has been heating up dramatically.
Although the barrage of EMV information has done a great job of educating consumers of significant trends and deadlines, an opportunity remains for business partners to engage with credit unions to prepare strategically for changes and turn plans into action. Credit unions, ranging in asset size, are currently evaluating what the liability shift means to them, as well as understanding the cost of providing this service related to the cost of issuing chip cards. Management teams should also be mindful of how EMV fits into the overall tokenization movement in the future.
As a trusted business partner, we are standing by to help you navigate through the EMV process though our LEVERAGE Card Services solution. In addition to implementing a successful debit and credit card program at your credit union, LEVERAGE Card Services is well positioned to serve as a valuable consultant during your EMV planning. Our experienced team is able to assess the various components of your card program and offer recommendations to minimize the cost impact to your organization.
LEVERAGE Card Services also provides services relating to chargebacks and gift cards, as well as trending information on the Apple Pay progress. Visit our website today for details.