Well folks, the October chip card liability shift that we’ve been discussing for months is finally here.

As of October 1, 2015, liability for counterfeit card-present transactions will shift away from the issuer —it normally resides with the credit card issuer under the card brands’ zero-liability provisions — to the merchant if its payment terminals are not chip card compliant.

This means that if your business does not accept or process chip cards, your business will be responsible for any resulting fraud that occurs at the point of sale.

As a business owner you’re not required to upgrade your payments system. However, keep in mind this may be a worthwhile investment if it aligns with your customers’ needs. If your business doesn’t conduct a lot of transactions via credit cards, upgrading your payment terminals may not be necessary right now.

Here are some things to keep in mind when considering chip cards and the impact on your business.

If you didn’t know, now you do.

We understand that there are many questions small business owners still have about chip cards – which is why we offered up our in-house experts, Jim Salmon, Vice President of Business Services, and Susan Compton, Regional Supervisor of National Markets, to answer any and all chip-related questions. And to provide the ultimate convenient and fast experience for our small business members, we decided we would conduct this conversation on Facebook.

If you missed it – no worries. We’ve got you covered. Just take a look at the Facebook Q&A recap below. And make sure you tune in next time! Follow us on Facebook or Twitter for the latest news and updates.


Speaking of Facebook, our talented social media team wanted to share some tips and tricks with our business members to help them market their businesses during the upcoming holiday shopping season.

Social Media Tip:

Your social media bios should be informative and up to date, and they should show how passionate you are about your product or service. Share your story! The genuine enthusiasm will be contagious and you just might inspire someone to not only buy your product or service, but to start their own business as well!