Can Coin be accepted after October 2015's EMV liability shift?

October 2015 marks a liability shift date for the US payment industry where in cases of fraud, liability shifts from card issuers [Discover, AMEX, etc] to merchants that are not EMV-ready. Merchants should have no problem accepting Coin after the liability shift as Coin 2.0, our second generation product, is an EMV-Ready device incorporating NFC technology.

Coin does not currently have an "EMV chip"; however, Coin’s NFC technology is a contactless form of EMV payments. Learn more about NFC’s relationship with EMV here.

If you have upgraded your POS system to accept EMV transactions via NFC, Coin will work seamlessly at your store when tapped against your terminal. Additionally, if you have upgraded your POS system to accept EMV transactions, the option for your users to swipe is still available. All EMV-enabled cards include magnetic stripe data, making all cards--even newly issued ones--compatible with Coin.

If however you require EMV chip cards to be dipped at your POS, those transactions will be incompatible with Coin. If you continue to allow EMV chip cards to be swiped or tapped, you should be able to swipe a Coin for those same cards. Using or accepting Coin is equivalent to the liability of accepting the original card that the user stored on their Coin.

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