Intuit Announcement on EMV Reader Compliance

Important updates from Intuit regarding EMV reader compliance…
 
The information below was provided from Intuit to QuickBooks resellers.* If you are accepting credit card payments through QuickBooks, this may pertain to you.
 
On March 1st, customers who pre-ordered the mobile EMV reader will get the following email letting them know there’s been a delay. With this delay, Intuit is announcing liability coverage until further notice. Changes will soon be made to http://quickbooks.intuit.com/payments/emv-reader to reflect this update. You can also find more information athttp://support.quickbooks.intuit.com/support/articles/inf23795.
Here are the updated FAQs for your reference:
Is Intuit planning on supporting the shift to EMV standards?
Yes, Intuit is working with its partners to offer EMV-ready versions of its QuickBooks Payments mobile, desktop and point of sale solutions, which work with QuickBooks GoPayment, QuickBooks Desktop (Pro, Premier) 2016, QuickBooks Enterprise 2016, QuickBooks Online, and QuickBooks Point of Sale Desktop 12.0.
Where can I order Intuit’s EMV-ready payments solutions?
Information on the EMV-ready devices for use with QuickBooks Desktop (Pro, Premier) 2016, QuickBooks Enterprise 2016, QuickBooks Online, and QuickBooks Point of Sale Desktop 12.0, will be available soon.
Will I be liable for losses related to the EMV liability shift starting October 1?
Intuit will cover its customers’ losses related to the EMV liability shift for its QuickBooks Payments customers until further notice to allow everyone more time to transition. If you are a QuickBooks Payments customer and unknowingly accept a counterfeit EMV card using your magnetic stripe reader, Intuit will assume your liability for the fraud until further notice. For further details around Intuit’s extended liability shift, please refer to the liability chart above.
What happens next?
If you are a QuickBooks Payments customer, we will notify you with more information on our EMV-ready payments solutions, to allow you enough time to purchase EMV-ready versions of the solutions that are right for your business and let you know when you will be responsible for losses related to counterfeit or stolen EMV chip cards.
Do I need to worry about EMV if I do not accept card payments in person?
If you only key in credit card data instead of swiping cards, you will not be affected by the EMV liability shift, but you should always be aware of the ways to prevent fraud when processing online or phone transactions. More information is available here.
Where should I go if I have more questions?
You may visit Intuit’s online support center  for additional resources and detailed information.
*This information is provided by, and belongs to Intuit. Beyond Your Books is forwarding this as a courtesy to our clients and newsletter subscribers, and is not liable for it’s accuracy or any situations that arise from not meeting EMV compliance.

About the Author

Karen is a CPA, Advanced Certified QuickBooks Pro Advisor and Certified Profit First Professional, with 20 years accounting experience. Besides running a successful accounting practice - Beyond Your Books - she enjoys lounging at her lake and hanging with her children, dogs and cats.

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