The New EMV Credit Card “Chip” - Is Your Business Ready? The Tennessee Small Business Development Center (TSBDC) at the UT-Martin REED Center in partnership with the Twin Cities Chamber of Commerce and Regions Bank will host a free seminar, “The New EMV Credit Card Chip—Is Your Business Ready.” EMV technology was developed in Europe by Europay, MasterCard and Visa. This new technology replaces credit cards’ magnetic stripe with an embedded chip. Businesses must migrate their point-of-sale systems to accept EMV, also known as "the smart chip card" by October 2015 as magnetic stripe only terminals and cards are being phased out. Learn more about this new technology and how to implement it into your business by attending this free informational seminar. With the impending deadline for liability shift, any card payment fraud that could have been avoided through the use of an EMV terminal will become the responsibility of your business, rather than the credit card company.The technology is scheduled to be instituted in the U.S. by year-end.
Fee: No Cost