Manta: Less Than 9% of Polled Businesses Have Adopted EMV

Manta: Less Than 9% of Polled Businesses Have Adopted EMV

From smallbiztrends.com:

Businesses have less than two months to adopt EMV technology for credit cards and debit cards. But not many businesses owners have made the switch, according to a new poll by Manta.

Last month, Manta surveyed more than 1,700 small business owners and found that only 8.33 percent had switched over to using EMV in preparation for Oct. 1. Another 28 percent say they don’t understand how the change will affect them.

On Oct. 1, companies like Mastercard, Visa, Discover and American Express will implement what’s called a “liability shift.” That means that business owners who do not upgrade their systems to accept new EMV chip card technology at their point of payment could be on the hook in cases of credit card fraud.