Why are Businesses Taking so Long to Accept EMV Chip Cards?
As of October of 2015, it is mandatory for businesses to accept EMV chip cards. If a business does not accept EMV chip cards, than they will be responsible for any fraudulent credit card charges. So why are businesses taking so long to update their software? According to Kevin Hardy and Patt Johnson’s article on usatoday.com, the reason businesses are taking so long to implement this change is because of the volume and cost of the machines that need updating. In addition, business aren’t the only one’s who are dragging their feet on accepting EMV chip cards. According to the article banks have also been slow about updating the EMV chip into credit and debit cards.
Click here to read the full article by Kevin Hardy and Patt Johnson at usatoday.com.