![]() ![]() This move also shifts the liability of the risk of loss from the issuing banks to YOU and YOUR processing company. The move to Smart Cards is being done to bring the U.S. These new cards will essentially talk with the issuing bank to ensure that the card itself is a real card issued by that bank. As you may or may not be aware, as of Octobusinesses and Credit card companies need to switch to the new Chip Compliant Cards and Card readers in order to protect themselves from losses incurred by credit card fraud.
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