QuickBooks EMV Liability Shift

Written by Carrie Kahn

We’ve all seen the new machines at the checkout counter and some are already being required. EMV (Europay, MasterCard, and Visa) is the nationwide shift happening now. This is the new global standard for cards equipped with computer chips and the latest technology used to authenticate chip-card transactions. They provide stronger security features and other capabilities that are not possible with magnetic stripe cards.

In April of this year, David Glantz addressed the topic of EMV Compliance and when QuickBooks would be EMV-ready. The picture was somewhat unclear at that point and there were delays in the rollout along the way. This article addresses the latest updates from QuickBooks on EMV.

EMV is important as it provides merchants with increased protection from counterfeit, lost, or stolen cards, since the embedded chip is more secure. The chip in EMV-enabled cards generates a unique one-time code that cannot be replicated by counterfeit cards. This is critical because if you swipe a fraudulent charge with a magnetic stripe reader today, you can be liable for that charge.

Shift the Liability and Ensure You Are Compliant

Intuit has been covering your EMV fraud liability if you unknowingly accepted counterfeit or stolen EMV cards in a card present transaction. The original deadline was October 15, 2015. It was extended and the liability officially shifted on August, 15, 2016. Are you prepared for this shift in liability for fraudulent transactions? The liability shifted from the credit card processing company to the merchant.

This is the most critical motivation affecting merchants who are resisting the change, as any charges deemed fraudulent will no longer be the responsibility of the credit card processor. If you process a counterfeit or stolen EMV chip card using a magnetic stripe card reader, you may be responsible for any chargebacks and fees resulting from the fraud using Point of Sale Payments. This could result in significant losses to the business.

QuickBooks Point of Sale Desktop 12.0 Now EMV-Compliant

EMV is only available on the latest point of sale software, QuickBooks Point of Sale Desktop v12. Intuit is still covering liability for QuickBooks Financial Desktop software until the hardware is upgraded.

Make sure you are EMV-ready with QuickBooks Point of Sale. In order for you to be fully EMV-compliant, you will need to do the following:

    1. POS V12, and download latest updates.


    1. QuickBooks Payments account that is EMV-ready. If your merchant number starts with 52477199 you are all set, if not, you will need to upgrade.


  1. Purchase and install the new EMV-ready Ingenico iPP350 PIN Pad.

QuickBooks GoPayment Is Now EMV Compliant

GoPayment has been upgraded as well and you can order an EMV-compliant reader by logging into your merchant service account. If you use GoPayment, they now have the new EMV-compliant card readers for $30. You can order these new devices  through your merchant service login or your GoPayment app. Do not continue to use your old GoPayment Card swipers.

Ensure You Are Compliant

It’s up to you. You can switch to EMV reader or do nothing and continue to accept credit cards as you always have, but with increased liability for fraudulent transactions resulting from counterfeit cards. EMV readers are now available for QuickBooks GoPayment and QuickBooks Point of Sale Desktop 12.0.

If you are unsure whether you are EMV-compliant or need to upgrade your software, you can contact a local Intuit Reseller, your QuickBooks ProAdvisor, or Intuit Direct. Any of these QuickBooks professionals will assist you in verifying that you have the proper tools to be EMV-compliant. Don’t wait, do it right away!

About the author

Carrie Kahn

Complete Business Group helps small businesses purchase the RIGHT QuickBooks product at the lowest price and offers a team of experts to provide high level customer service so that they use QuickBooks® the way it was intended. With the many offerings from online to desktop we understand the benefits and limitations of each option to help you find the right solution. We have a team of certified ProAdvisors located all over the US ready to support you remotely or locally.

Carrie Kahn, CPA, the founder and CEO of Complete Business Group, has been helping small businesses purchase the RIGHT QuickBooks product at the best price and offers a team of experts to provide high level customer service so that they use QuickBooks®the way it was intended.

Carrie has been supporting and selling QuickBooks since Dos V1. She has been an Advanced Certified ProAdvisor since 2002. She joined the Intuit Reseller Program in 2008. In 2015 she launched the Complete Business Partner Program
mentoring ProAdvisors in selecting the best QuickBooks products for their clients at best pricing for their customers. She is very involved in the QuickBooks community providing extensive resources for ABBO Facebook group , Scaling New Heights, School of Bookkeeping, CPA Academy, Intuit’s Firm of the Future, and CBG Blog. Carrie is a lead QuickBooks Author for the Accountex blog. She was named Insightful Accountant’s Top 100 ProAdvisor every year since 2014 and was Insightful Accountant’s 2017 Social Media Resources ProAdvisor. She currently serves on the Intuit Reseller Program Council. CBG has been in the top 10 Intuit Premier Resellers (IRPs) since 2012 and currently is ranked #1 in the East. She is currently serving on the IRP Council. Carrie’s company, CBG was named Partner Program of the year for 2017.

1 Comment

  • We tried a couple of other providers but the integration with QBPOS was not very good. We went back to Intuit Merchant Services (or payments or whatever they call themselves these days). It’s been a rocky reunion. FIrst EMV reader was defective (couldn’t swipe or take debit cards). New reader took 8 days to arrive. It wasn’t EMV ready. Expecting a new reader today or tomorrow(will believe it when I see it..their customer service is lacking). One drawback to Intuit Merchant Services is minimum 2 days before batches are funded. Once the new lower rates(for us) kick in, I may be able to live with that.

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