MasterCard Plans Shift To EMV-enabled ATMs By 2016

After October 2016, banks can hold ATM operators liable for fraudulent withdrawals and cash advances from debit and credit cards.

Image source: Lexcel
The announcement gives banks, ATM operators, and equipment manufacturers more than four years to cycle EMV cards and equipment into circulation.

While not immune from fraud, EMV-enabled debit and credit cards require much more sophistication to clone, compared to the magnetic stripe cards popular among Americans today.

Is your CU planning to use EMV technology? Read the article to learn more about EMV-enabled ATMs.