We get phone calls every day – “We’re getting chargeback’s and we are losing them!”
What can we do?
October 2015 – Liability Shift is causing merchant loses!
Restaurants, Bars and Nightclubs who are not equipped with EMV are experiencing high amounts of chargebacks! – We have some places that are getting $1000 to $3000 per week –
Here is what happened with the liability shift.
Someone comes into your business – you swipe the card (on non-EMV machine) and that card turns out to be stolen, lost or just a fraudulent card – before OCT 2015 – merchant sends in proof of a swipe – maybe an imprint, thumb print, picture etc.. – The merchant wins.
Now after OCT 2015 – same scenario above – the merchant loses.
Right now less than 40% of merchant locations have EMV machines – if your business one of the 40% – you are seeing your chargebacks go down or completely disappear.
If you are in the 60% – you are seeing the highest number of chargebacks in the history of your business – it is time to switch to EMV and stop the bleeding.
We recently had a bar –they had over $10,000.00 in chargebacks –that were lost – they called and we installed 5 EMV Machines – now there is no problem – fraudsters will go down the street and go to the next place that does not have EMV
Don’t become a TARGET – Get EMV NOW.