You've probably noticed new credit and debit cards with the shiny EMV chips. These chips make card transactions more secure than transitional magnetic strip technology to thwart skimming.
For ATMs to process EMV chip card transactions, new technology is needed. You may choose to upgrade field ATMs with new EMV-certified hardware and software, or replace older ATMs with brand new EMV-compliant units.
If the ATM you own is not EMV Compliant, all theft attributed to counterfeit card transactions is now the responsibility of the machine owner.
As of October 1, 2017, liability will be assigned to the party in the transaction that is using the less secure magnetic stripe technology. For ATM owners, the liability threat from even a small amount of fraud can severely compromise the viability of your business.
The National ATM Council estimates nearly one half of the 400,000 private ATMs in the US are still not EMV compliant. Review the EMV Guide to learn more about your risks and how to fix them.