EMV Card Technology Arrives Ahead of ‘Black Friday’ Holiday Shopping

smart-cardEMV Technology Offers Greater Consumer Protection

NASHVILLE – The Tennessee Department of Commerce and Insurance’s (TDCI) Consumer Affairs Division reminds Tennesseans to be aware of changes in credit card technology as this holiday season will be the first year retail stores will be required to become compliant with EMV credit card technology.

EMV (which stands for Europay, MasterCard and Visa) is a new global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. In the wake of numerous large-scale data breaches and increasing counterfeit card fraud, U.S. card issuers have migrated to EMV technology which is harder to counterfeit than the magnetic stripes on traditional credit cards. Thus far, approximately 120 million Americans have already received an EMV credit card, according to Smart Card Alliance.

EMV cards are becoming more prevalent. Major chain retailers such as Walmart and Kroger have already installed EMV chip-card readers to accommodate the new cards. After Oct. 1, 2015 (the deadline created by major U.S. credit card issuers MasterCard, Visa, Discover and American Express), the liability for card-present fraud will shift to whichever party is the least EMV-compliant in a fraudulent transaction. This means fraud liability will fall back on the merchant in the event of a large data breach.

Many small businesses are still in the process of implementing the new chip-card reader; some may not implement the chip-card reader at all. Keep this in mind as holiday shopping gets underway on Black Friday, Nov. 27, 2015. To learn more about EMV chip cards and how to use them, visit www.gochipcard.com or www.emv-connection.com/consumers.

For more consumer resources, visit www.tn.gov/consumer

About the Tennessee Department of Commerce & Insurance: TDCI is charged with protecting the interests of consumers while providing fair, efficient oversight and a level field of competition for a broad array of industries and professionals doing business in Tennessee. Our divisions include the Athletic Commission, Consumer Affairs, Tennessee Corrections Institute, Emergency Communications Board, Fire Prevention, Insurance, Tennessee Law Enforcement Training Academy, Peace Officers Standards and Training, Regulatory Boards, Securities, and TennCare Oversight.

About Brad Jones

Brad is the Owner/Operator of BBB TV 12, and has been with the company since August of 1996. Brad is a 1987 graduate of Coalfield High School and a 1995 graduate of the University of Tennessee College of Communications. He won the 1995 broadcast production student of the year award. Brad worked at Shop at Home, Inc. a home shopping network that was located in Knoxville, TN from 1993 - 1995 and then at Via TV (RSTV, Inc.) from 1995 - 1996. After some freelance work in Nashville, Brad joined the BBB Communications staff in August of 1996. A short stint at WVLT TV as a news photographer was in 2001, but he continued to work at BBB TV as well. Brad is married to Nicole Jenkins Jones, a 1990 graduate of Oak Ridge High School, who works at Oak Ridge Gastroenterology and Associates in Oak Ridge. They have 3 kids, Trevor Bogard, 27, Chandler 22, and Naomi 13. On December 12, 2013 they welcomed their first grandchild, Carter Ryan Bogard. Brad is also the assistant boys basketball coach at Coalfield High School for the past 11 years. In 2013-14 the Yellow Jackets won their first district title since 1991 and just the 4th in school history.

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