PROCESSING NEW EMV CHIP CARDS - A HEADS UP IF YOU TAKE CARDS - Forum

I got a letter from my bank about the new EMV chip card processing but I cannot get the text to load from word or PDF. This is the meat of it:

"Effective October 1, 2015, the Merchant Liability Shift occurs. This states that, after this date, if someone brings in an EMV card and the merchant cannot process it as one, if there is a charge back, the merchant will take full liability. It is possible that criminals shopping with EMV chip cards will be able to successfully charge back and prey upon merchants with old point of sale equipment that cannot process an EMV sale using the chip on the card." DIRECT QUOTE FROM BANK LETTER

Now for the good stuff. Europay, Visa and Mastercard arte issuing their new chip cards now. Terminals are available to process these chip cards but the technology is lagging for mobile applications. This means your swipe devise on your phone or iPad cannot process the chip card and you are at risk. This applies to devices like Square which a lot of you use. If crooks are smart, they would work areas were the new terminals are not available, i.e. art shows and the like. If you manually enter card data you are still safe according to my bank.

What can you do? Check back with your swipe service provider to find out when the new device that will process an EMV card will be available.

Replies

Jan Raven August 11, 2015 at 8:58pm

I pre-ordered the Square chip card reader (not the even newer reader that also processes Apple Pay) last winter and received it the last week of May. I use it with my very old iPad 2; no problems at all.
Rich Terry August 10, 2015 at 4:06pm

Both Square and PayPal will have the new chip reader. They are both available for pre-order and I have already done so.

There is a draw back to the Square reader as it will not work on my iPad 2 unless I use the Square Stand with it. But considering my iPad was purchased when they were released I have gotten my money out of it. So I will now have to invest in a new iPad next month before the change over.
- Alison Thomas > Rich Terry August 10, 2015 at 7:19pm
  
  The apple pay one won't work with the ipad2. I believe the chip card reader will.
- Greg Little > Rich Terry August 10, 2015 at 4:44pm
  
  I didn't realize the square wouldn't work with the ipad2. I have a ipad4 and it is our primary device for the square with the ipad2 as a backup that works using the current square mag readers. However, we also have the phones as backups..a Samsung 3 and a LG G4.
  I have not heard anything about when Square or paypal plan to ship their new readers. hopefully before the October changeover to the new regulations. i have had the square on backorder for months but have not had and shipping date estimates updates from them
A. Denise Rollings-Martin August 8, 2015 at 9:58pm

I've had my new Square reader for about 6 weeks. It works great.
Alison Thomas August 8, 2015 at 6:13pm

The Square reader for chip cards is available now for 29.00. The 49.00 reader is for Apple pay and chip cards.
Greg Little August 8, 2015 at 5:15pm

Square and Paypal have both been communicating that they will be shiping the new readers this fall. square charges a $49 fee for it but refunds the costs from the processing fees they charge. I'm sure every card reader merchant worth their salt wll have one available if they intend to remain in business.
Richard L. Sherer August 8, 2015 at 3:33pm

I just saw on Facebook that Square has a reader for chip cards.

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