If you process credit cards in your winery or tasting room, you’re probably starting to hear about new payment technology and the upcoming EMV Liability shift. Also called “Chip-and-Signature,” EMV is quickly becoming the global standard for secure credit card payments as these cards contain an embedded chip that protects cardholder information from becoming vulnerable to fraud. As credit card companies push US merchants to adopt EMV technology, you can expect to see a few changes that affect your business. The good news is there’s no need to panic as long as you know the facts so you can make the best decision for your business.

What is EMV?

EMV is a chip technology used globally in place of magnetic stripe. EMV chip technology helps reduce card fraud in a face-to-face, card-present environment by creating a unique transaction code each time it is used. It enables safer and smarter transactions across contact and contactless channels. EMV was conceived by EuroPay, MasterCard and Visa (EMV). This group includes representatives from all major world brands (American Express, Discover, JCB, UnionPay) and comprises the governing body referred to as EMVCo.

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