Square POS NFC

In October of 2015, payment network policy started requiring businesses and financial institutions in the U.S. to adopt more secure payment practices. This switch away from magnetic-stripe credit cards is also known as the liability shift.

Merchants who don’t accept secure payment types (like EMV or NFC) could be held liable for any fraudulent transactions that take place after the liability shift—rather than the cardholder or processing network.

Safer payments

With NFC, your card information is encrypted on your phone. Mobile payment solutions like Apple Pay and Android Pay use tokenization for heightened security. This means that in place of your actual card number, the retailer receives a one-time only number—never your actual card number. So if there’s security breach, your real card information remains secure.