In the News

Erin Fonté and Jacqueline Allen Co-Author Article for E-Finance & Payments Law & Policy Journal

November 1, 2015

Erin Fonté and Jacqueline Allen, Texas-based attorneys in Dykema’s Financial Industry Group, co-authored the article, “EMV deadline passes in US with many not migrated over,” which appeared in the October issue of E-Finance & Payments Law & Policy Journal.

In the article, Fonté and Allen discuss the Europay, MasterCard, and Visa standard (EMV), sometimes referred to as “chip-and-pin,” and the deadline in which liability shifted for card-present chargebacks to the non-EMV compliant party in the U.S. They highlight that if a merchant has not implemented new EMV technology in its stores and a payment card with a new EMV chip is used to commit fraud in a card-present transaction, the merchant is now on the hook for that fraudulent transaction. In other words, a credit or debit card issues that would normally be liable for the transaction can now shift liability to the merchant, as long as the issuer has upgraded its payment cards from magnetic strip cards to EMV cards.

To read the entire article, click here.