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Reminder: Credit card liability shifts on March 31
March 22, 2011
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Visa and MasterCard’s domestic liability shift takes place on March 31, 2011. On this date, Canadian merchants become liable for domestic card-present fraudulent transactions that may have been avoided with Chip technology. Liability involving chip cards used at non-chip devices for fraud chargebacks for lost, stolen, counterfeit fraud and never-received-issue (NRI) transactions are subject to liability shift.
Dates to know
- Visa foreign liability shift date implemented Oct. 1, 2010
- MasterCard foreign liability shift date remains April 15, 2011
- Amex liability shift and CAPN software upgrade to Oct. 31, 2012
Click here for an updated English liability shift matrix courtesy of Global Payments. (For a French matrix, click here.)
To learn more about chip, visit these sites:
Global Payments www.globalpaymentsinc.com/canada/customersupport/industryinit.html
Visa www.visa.ca/chip/merchants/index.jsp
MasterCard www.mastercard.com/ca/merchant/en/products/chip/index.html
Interac www.interacchip.ca
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