There have been a lot of interest and questions around EMV chip-enabled cards and the EMV liability shift on October 1st. We wanted to share a bit more about EMV and the communication Intuit will be delivering to its QuickBooks Payments customers over the next week. Below is the email that will be sent to QuickBooks Point-of-Sale customers. Similar emails will be sent to customers using other products.
What you should know:
- Intuit is working with our partners to offer EMV-ready versions of QuickBooks Payments mobile, desktop and point of sale solutions, which work with QuickBooks GoPayment, QuickBooks for Desktop 2016, QuickBooks Online, and QuickBooks Point of Sale v12.
- Intuit is extending the EMV liability shift by six months for its QuickBooks Payments customers to allow everyone more time to transition. If you are a QuickBooks Payments customer and unknowingly accept a counterfeit EMV card using your magnetic stripe reader, Intuit will assume your liability for the fraud until March 31, 2016.
- Information on the new QuickBooks USB EMV Card Reader for use with Desktop 2016, QuickBooks Online, and QuickBooks Point of Sale v12, will be available soon.
We will be providing more information on any steps customers will need to take related to software and/or hardware for QuickBooks Payments EMV-readiness in the coming weeks. Our goal is to help customers make the transition to EMV-compliant software as easy and painless as possible.
Forthcoming Intuit Customer Email:
A few months ago, we shared with you that the United States is transitioning to full adoption of EMV chip-enabled cards to reduce credit card fraud. This change with EMV is coming October 1, 2015, and we wanted to provide you with an important update about what this means for you.
Today, if businesses swipe a counterfeit or stolen card, the bank assumes the loss. Starting in October, if businesses swipe a counterfeit or stolen EMV/chip card using a magnetic stripe reader, they could be liable for that charge.
Since we recognize that industry transitions take time, Intuit is extending the EMV liability shift by six months for QuickBooks Point of Sale Payments customers to allow everyone more time to transition. You can learn more about EMV liability coverage here. We will have opportunities throughout the six-month period for you to take the steps necessary to be EMV-compliant, so that you can take action when it is most convenient.
What to do next?
In the next few weeks we will be sharing more information about any steps you’ll need to take related to your software and hardware for QuickBooks Payments EMV-readiness. If you are using our GoPayment app to process payments using your mobile device, you can pre-order your EMV mobile reader here.
Intuit is dedicated to making the industry shift to EMV as easy and painless as possible. Please visit our EMV site and online support center for additional details and resources.
Thanks for your patience as we work toward providing the best EMV experience for you and your customers.
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