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Stay On Top of Your Credit Card Payment Technology

Advisory Date: 
Friday, October 2, 2015
Advisory Number: 
15-1002-KY
Contact: 
michael.ashcraft@sba.gov

By: Cassius Butts, SBA Region IV Administrator

You may have noticed recently that you are not only swiping your credit card but also placing it in the same machine to read the chip from your card. This is safer, as over $7 billion in credit card fraud occurred in the United States in 2013. The use of the chip technology will drastically decrease this number, as it will become more difficult to perform credit card fraud.

As of October 1, the use of chip cards became critical to large and small business. We will see a "liability shift" for business owners regarding credit card fraud. There are many affordable options for small business owners to use and to stay on top of this chip technology.

SBA has teamed up with Square to help deliver the message to small business owners that this change is happening and to assist those small businesses in transitioning.

To learn more, please join us for a webinar on October 14, 2015 at 2:00 pm ET, hosted by SBA and Square: EMV 101: What Small Businesses Need to Know about the Switch to Chip Card Technology.

To learn more or to register, please click here.