R2 Software, in partnership with Axia Payments (https://www.axiapayments.com), now provides an EMV (Chip and PIN cards) ready solution. Users of R2's integrated payment solution will benefit from the highest level of payment security and meet the requirements to avoid the liability shift and protect sensitive card holder data. Payments have never been easier and more secure.
- Credit cards are now embedded with a "smart chip"
- EMV compliance standards began on October 1, 2015
- EMV brings more secure card present transactions and reduces fraud liability
Fraud Liability Shift
The shift means that if a business is presented with an EMV capable chip card for payment but the transaction does not take place using the chip, the business will hold the liability for card present counterfeit fraud losses.