Originally Posted by
Cloudship
That's different than what we are moving too, though. By October, merchants need to be accepting chip and pin cards or they become liable for any fraudulent activity.
http://www.qsrmagazine.com/exclusives/are-you-ready-emv
Personally I think we are really in a lurch on this, as they haven't quite figured out how to roll out the new cards, but they are coming.
They just have to accept chip, not necessarily chip and PIN. That's why Square's new chip reader is acceptable for the purposes of that liability shift. Foreign cards still work, they just won't be given the opportunity to enter a PIN and will have to sign instead.