IF YOU ARE IN A RETAIL BUSINESS YOU SHOULD PROBABLY KNOW ABOUT THE SWTICH FROM MAGNETIC-STRIPE CREDIT CARDS TO CHIP-EMBEDDED CREDIT CARDS
According to this item in the Arizona Republic, the change-over from magnetic-stripe to chip-embedded credit cards is going to include upgrading the credit-card readers that retailers use. The suggestion in the article is that if you don’t upgrade, you will be liable for fraudulent magnetic-stripe card use. I imagine that will involve a change to the user agreement between the retailer and the banks or card issuers.
We accept Visa and Master Card at my firm, but we don’t use a card reader. Our volume of credit card transactions is low enough that we don’t need to use one.
The contents of this blog, this web site, and any writings by me that are linked here, are all my personal commentary. None of it is intended to be legal advice for your situation.