Merchants to face $5.8 million in chargebacks this year after EMV shift

//Merchants to face $5.8 million in chargebacks this year after EMV shift

Merchants to face $5.8 million in chargebacks this year after EMV shift

resize_shutterstock_137276576Merchants will face more than 260 million chargebacks worth $5.8 million this year, according to a new study from Boston-based Aite Group.

The increases – 17 percent more transactions and 21 percent more in dollar volume – come after the liability shift last fall for EMV or chip cards moved to merchants for in-store terminals, according to a CSP Daily News article.

Merchants must adopt chip-card technology to avoid liability.

The study also found an increase in credit card fraud.

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By |2018-10-10T11:22:36-04:00August 26th, 2016|Industry News|

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