TL;DR
Fast Casual debunks common myths about EMV liability shifts and encourages franchise brands to make the switch before the October 1 liability shift. Franchise brands should encourage franchisees to switch to EMV to avoid chargebacks on fraudulent purchases.
Franchise Brands would be wise to encourage franchisees to make the switch to EMV (EuroPay, MasterCard and Visa) before the liability shift on Oct. 1 that will hold them responsible for chargebacks on fraudulent purchases. However, as Fast Casual restaurant recently pointed out, there are numerous persistent myths about EMV that need to be cleared up first.
For example, many establishments assume making the switch to EMV is required by government law. This simply isn’t true. It’s each business owner’s prerogative to make the switch or not.
Others may be under the impression that EMV is some kind of full-service protection against data breaches. While implementing EMV will certainly help in the fight against fraud through counterfeit cards, it is not the only step that may need to be taken. Also, there are various other digital dangers businesses must focus on protecting against.
In this story
This story was originally published in 1851 Franchise on June 8, 2015. Burnaze summarizes and links to the original reporting.
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