Liability involving chip cards used at non-chip devices was originally expected to shift on October 1, 2010, but Visa Canada has extended the migration term, allowing issuers to continue to absorb the liability for domestic transactions until March 31, 2011. In consequence, merchants who are in the process of making the conversion will have additional time to implement chip-compliant technology and can temporarily delay the introduction of changes to their payment environment in the lead up to and during December, which is typically the busiest shopping period of the year. The postponement will not have any negative long-term impacts on chip migration in Canada.
Canada’s migration to Chip card technology is considered an important step in harnessing the protection of business and customers from fraud related liability. Visa is determined to help Canadian merchants prevent any criminal attacks related to the Chip technology processing via its Visa payWave contactless technology. Visa payWave enables customers to simply wave their Chip card in front of a contactless reader at checkout, without the need to sign or use their PIN.
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