As a result of this act and non-law, many U.S. Unlike other countries around the world that transitioned this form of payment technology, the US did not enact a “card chip law” to make upgrading mandatory. What is EMV Liability and Why is it Shifting?Īs the name of the act implies, the EMV Liability Shift only shifts the liability from one party to another. magnetic stripe card and discuss how modern technologies are protecting both merchants and consumers.
Let’s take a look at the difference between a chip card vs. merchants have foregone updating their payment technology to accept chip cards - leaving them more susceptible to credit card fraud. However, unlike other countries around the world that have transitioned to this form of payment technology, the US did not enact a “card chip law” to make upgrading mandatory. This transition is also known as the EMV Liability Shift.
started undergoing a significant payment technology evolution - upgrading from magnetic stripe (magstripe) cards to EMV (named for the original developers, Europay, MasterCard, Visa). has only recently adopted this technology. While EMV chip cards are nothing new in other parts of the world, the U.S.