News

Deadline approaching in Canada for Chip and PIN

September 12, 2010

Visa Canada recently reminded merchants they are approaching an important milestone as the country moves to EMV, or Chip and PIN.

As of Oct. 1, liability for card-present fraudulent transactions involving a Chip and PIN card will shift to merchants who have not implemented chip-compliant technology.

Merchants who already have chip-compliant technology in their locations will be unaffected by this shifting of fraud liability, Visa Canada officials said.

“A part of Visa’s ongoing commitment to providing secure payment products and services, Canada’s migration to chip card technology is an important step in protecting businesses and their customers from fraud-related activity,” Visa said.

Chip and PIN Visa Canada cards also will have a magnetic stripe so the cardholders can use their cards in countries where EMV cards are not accepted.