With Enhancements to MicroMD® Practice Management Software’s Payment Processing Solution, Medical Practices Can Use Smart Chip Technology to Reduce Fraud Liability
Press Release, August 10, 2016
Henry Schein Medical Systems, Inc., a subsidiary of Henry Schein, Inc., announced today that its practice management software, MicroMD®, will enable physicians to accept EMV (Europay, MasterCard® and Visa®) chip credit and debit cards and contactless payments. New upgrades to MicroMD’s integrated payment processing solution, ePayments, will help reduce customers’ fraud liability since merchants that do not accept EMV chip cards can be found liable for fraudulent card transactions, per rules instituted by MasterCard, Visa, American Express and Discover on Oct. 1, 2015. These rules, as reported by CreditCards.com, indicated that “in-store counterfeit fraud liability shifted to the party—either the card issuing financial institution or the merchant—that had not adopted EMV technology. Before, credit card issuers were primarily responsible for covering fraud affecting consumer accounts.” (CreditCards.com).