The Europay, Mastercard, Visa (EMV) chip payment system will be implemented nationwide this October. The upgraded technology is designed to protect against cybercrime and fraud. According to a recent study, less than forty-nine percent of small businesses are aware of the looming deadline and liability shift. The hearing examined the implications of the EMV chip deadline for small businesses and the efforts that are being made to ensure America’s small businesses are in compliance with their financial service providers. For more information, click here.