Fremont Bank Prepares Local Businesses for EMV Liability Shift

Hosting seminar on what the upcoming migration to EMV means.

FREMONT, Calif., June 15, 2015—Fremont Bank, a leading full-service community bank in California is hosting an educational seminar on Wednesday, June 17, 2015, to prepare local businesses for the Payment Networks’ Liability Shift associated with EuroPay, MasterCard, and Visa (EMV). The main driver behind EMV migration is card-related financial fraud.

The liability shift encourages EMV adoption. Businesses using non-EMV compliant devices that accept transactions made with EMV-enabled cards will assume responsibility for any fraudulent transactions. When an EMV card is used properly at an EMV-enabled terminal, the security helps to better protect all parties.

“Our business clients need to know what the threat of assumed liability means and decide when they want to start an EMV-related implementation plan,” said Chris Olson, Senior Vice President, Chief Operations and Enterprise Officer. “We have been offering merchant services, the ability to take debit and credit cards, since 2004. We look forward to helping our business clients navigate the move to EMV which will ultimately reduce costs and increase security.”

Fremont Bank is making the shift to issue EMV-enabled cards, also called chip cards. Chip cards contain an embedded microchip in addition to the traditional magnetic stripe. The key security element of the microchip involves dynamic digital data in every transaction. The dynamic authentication, which incorporates unique records in each transaction, makes it virtually impossible to replicate. There is no data to hold onto, greatly reducing the risk of fraud, making payments not only smarter but safer.
For more information or to attend this event, please email events@fremontbank.com


About Fremont Bank
Fremont Bank (www.fremontbank.com) is a leading retail and commercial bank, California mortgage lender, award-winning top philanthropic business and consistently ranks in Bay Area News Group’s “Top Bay Area Workplaces.” Founded in 1964, Fremont Bank is one of the oldest independent family-owned and managed banks in the state and focuses on personalized service for clients. It has 18 branches across the counties of Alameda, Contra Costa, Santa Clara, San Francisco, and Monterey with a loan production office in Los Angeles county. Find Fremont Bank on Facebook at fb.com/FremontBank and on Twitter at @FremontBank.
Posted by: Jenny Avon, Online Marketing Manager, Associate Since 2002
6/15/2015 1:38:19 PM | with 0 comments
Filed under: Banking, Community, Debit Card, News
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