Their rollout has been slow, spotty and sometimes frustrating.
1. Deadline? What deadline?
New rules went into effect last October that make merchants liable for fraudulent transactions if they haven’t updated their terminals to accept chip-card, or EMV, payments. But as of late January, merchants had activated chip-card readers at only 17% of in-store locations, according to Visa; only 50% of locations were expected to have functioning readers by the end of 2016. Card issuers are doing a little better. There are more than 400 million chip cards now in circulation, says Randy Vanderhoof, director of the EMV Migration Forum—but that’s still only one-third of the estimated 1.2 billion total cards on the market.
2. They’ve got your number.
This story is from the May 2016 edition of Kiplinger's Personal Finance.
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This story is from the May 2016 edition of Kiplinger's Personal Finance.
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