ST. PETERSBURG, Fla.—It was standing-room only in an EMV-related breakout session at the 2015 CSCU Solutions conference here Thursday as nearly 40 credit union executives piled into a small meeting room to ask questions, compare notes and vent frustration.
At issue for most was the looming liability shift deadline in October, which will move the liability for some card fraud to merchants. Due to a variety of circumstances, many credit union executives, including the ones at the session, are worried that they won't be ready with cards and equipment in time to meet the deadline.
And there are real questions about whether everybody else will be able to meet the deadline, too. Connie Davis, senior director of North American retail payments for FIS, advised the executives in the room today to make sure their credit unions are in the queue with their EMV equipment and card vendors.
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