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Upcoming changes in merchant processing scheduled for October this year. Biggest change is the acceptance of smart card technology aka chip cards. EMV (which stands for Europay, MasterCard, Visa) is the global standard for chip card acceptance. While chip card acceptance is not mandatory, what will occur in October is a liability shift to the merchant in the event of card present counterfeit fraud losses. Ultimately the credit card industry is saying, a business doesn’t have to be EMV compliant but, if they choose not to be, the liability of fraud losses will shift to be their financial responsibility.