Pub. 5 2015-2016 Issue 2

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S September • October 2015 9 More information is available at http://gochipcard.com/ and from an American Bankers Association backgrounder on EMV technology at www.aba.com/Press/ Documents/BackgrounderEMV.pdf. ATM owners accepting MasterCard have until October 2016 to upgrade their machines, while Visa has given ATM owners until October 2017 to comply. Gas stations have until October 2017 with both MasterCard and Visa networks, to upgrade their technology. Upgrading to EMV compatible equipment by Oct. 1 is not a mandate. Instead, businesses who choose to upgrade their equipment by that time will limit their potential losses due to fraudulent chip cards. This provides an incentive (not a require- ment) to become EMV - ready sooner rather than later. Waller noted, however, that the new technology is only piece of the puzzle of protecting consumers. They, too, must do their utmost to guard themselves against fraud. Only give credit card and personal identifying information to business where you instigate the transaction, and to reputable, trusted establish- ments, she added. “No one can protect your identity like you can,” Waller ad- vised. The accompanying graphic, published in The Wall Street Journal, depicts how EMV cards are used versus the traditional, magnetic stripe method.  Contact us today at 303.860.0242 or refer a small business anytime at coloradoenterprisefund.org Jumping Good Goat Dairy Offering loans up to $500K including SBA Community Advantage loans up to $250K