Although it is optional, EMV will help protect your business by providing increased fraud protection from counterfeit, lost or stolen cards, because the embedded chip is more secure than the traditional magnetic stripe technology. EMV compliance is not a law and it is up to each business to decide if upgrading to EMV card readers is right for them. More information is available in this link. If you only key in credit card data instead of swiping cards, you will not be affected by the EMV liability shift, but you should always be aware of the ways to prevent fraud when processing online or phone transactions. If you plan on processing card present transactions in the future, you may consider ordering an EMV card reader to reduce your liability for counterfeit or stolen EMV/chip cards.
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