If your business accepts debit and credit card payments, there is an important industry change you need to be aware of. As of October 1, 2015, if you process a counterfeit transaction on a non-EMV enabled terminal, the liability for that transaction is YOURS, not the card issuer.
Bank of Tennessee is committed to being your financial partner. This means we will proactively work with you on matters that can impact the financial strength of your business. As a financial institution, we have access to resources and expertise that we can share with you. EMV compliance is one area that may or may not impact your business. To learn more, watch this video of a recent seminar we held. In it you will learn:
- What is EMV?
- How do chip cards work?
- What steps do I need to take to prepare for EMV?
Still not sure how EMV compliance may impact your business?
Call us today to discuss your specific situation and what are your options. There is no cost for this analysis or any obligations. This is just one example of how Bank of Tennessee is dedicated to help your business be more successful and profitable.