As merchants and issuers slowly transition point-of-saledevices and payment cards to EMV, the next major step in themove from magstripe to chip technology has begun to loom: The shiftdeadline for ATMs and self-service fuel dispensers.
The liability shift deadline for ATM transactions made withMasterCard branded credit and debit cards is Oct. 1, 2016; Visa'sdeadline is Oct. 1, 2017.
Experts said as credit unions continue to migrate theirmagstripe plastic to chip cards, they should not neglect theimpending deadline for making ATMs EMV-ready. They must alsoprepare to educate members on the new ATM technology and emphasizechip card benefits.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
