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MAG Vice President, Liz Garner, Describes the Impact- EMV: Chargebacks Hitting Merchants of All Sizes

U.S. merchants of all sizes - not just smaller retailers - have seen significant increases in chargebacks in the wake of the Oct. 1, 2015, EMV fraud liability shift date, says Liz Garner, vice president of the Merchant Advisory Group, which represents large retailers.

In an in-depth interview with Information Security Media Group, Garner says chargebacks are running $10,000 to $15,000 per week for some smaller merchants to as much as $1 million a week for some of the largest merchants.

And those charges are largely unfair, she argues, because many merchants were not EMV-compliant by the liability shift date due to circumstances out of their control.

Read the full article: http://www.bankinfosecurity.com/interviews/emv-chargebacks-hitting-merchants-all-sizes-i-3151