Credit unions still weary from the Oct. 1, 2015 EMV card liability shift will need to recuperate quickly, because another EMV deadline is sneaking up on them.
This time, it's a liability shift at ATMs taking place on Oct. 1, 2016. After that date, MasterCard will no longer bear the cost of fraud at ATMs that aren't EMV-compliant. That means credit unions and other financial institutions may need to change their ATM hardware and/or software – and they only have about eight months to do it.
"You're going to have a ton of ATMs that will not be upgraded come Oct. 1," Dolphin Debit EVP and Co-Founder Gary Walston told CU Times.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
