As you are aware, the credit card industry shifted to EMV, a new standard designed to make credit transactions more secure. EMV stands for Europay, MasterCard and Visa – the developers of this standard.
Throughout this shift, Intuit has been dedicated to making the change to EMV as easy and as painless as possible, first by extending liability coverage until Intuit’s EMV solution is ready and now by offering special incentives to help QuickBooks POS customers get ready.
What you need to do
EMV will only be supported on the latest point of sale software version, QuickBooks Point of Sale Desktop 12.0. Upgrade your software now to get ready for EMV. We know that making a change can be costly so we are offering significant discounts on POS software when you upgrade by June 1, 2016.
Frequently asked questions
- EMV is a global standard for credit and debit payment cards based on chip card technology (it’s short for Europay, MasterCard, and Visa)
Where does the EMV liability shift apply?
- EMV liability shift only applies to fraudulent chip enabled cards that are swiped not dipped / inserted
- If you only key in credit card data instead of swiping cards, you will not be affected by the EMV liability shift, but you should always be aware of the ways to prevent fraud when processing online or phone transactions.
Who are covered under Intuit’s liability coverage till when?
- For QuickBooks Payments customers, Intuit is taking the full liability for EMV related fraudulent charges until QuickBooks Point of Sale Desktop 12.0 is EMV compliant.
What happens next?
- If you are a payment customer, you need to have QuickBooks Point of Sale Desktop 12.0 and the Ingenico iPP350 to be EMV compliant.
- If you have QuickBooks Point of Sale Desktop 12.0 and the iPP350, there is nothing else you will need to buy to be EMV compliant.
- Or if you have purchased QuickBooks Point of Sale, powered by Revel Systems and the iPP350, there is nothing else you will need to buy to be EMV compliant.