Maybe Expat will view with a take from
Hamilton. I just dont want any additional fees from the card companies
Cards will still be processed via mag stripe readers beyond April, but the liability will be 100% on the merchant as it has been since 2015. This could involve:
- Chargebacks initiated by customers (we've had a few merchants who said their customers know they can dispute charges when they use non-EMV readers, and have exploited this)
- Bank fees/penalties to 'cover' their time for the chargeback request
- Fees/charges from the banks that issue cards (I've read some cases where issuing banks have levied fees on a merchant for every transaction that was not processed via chip read)
We've never tried to fear-monger at
Hamilton with EMV to encourage new hardware purchases, but in the past year EMV has surpassed mag as the
credit card solution on all of our new kiosks. We've seen a fairly big uptick in retrofit kits for existing units too.
So much depends on the market a wash is in also. Higher-income areas tend to have less issues, whereas lower-income areas seem to be more susceptible to the customer-initiated chargebacks.
I'm not sure if processors will levy additional fees in April for non-EMV processing, I haven't heard anything but I would imagine they'd be notifying customers now if they were planning to.