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Phoenix666 [soylentnews.org] writes:

This week a management consulting company called The Strawhecker Group (TSG) released the results of a study [businesswire.com] that found that only 37 percent of US retailers were ready to process chip-embedded credit and debit cards [arstechnica.com]. The slow adoption of chip-embedded cards leaves merchants open to accepting liability for fraud perpetrated with traditional, less-secure magnetic stripe cards.

The US officially migrated over to the so-called EMV standard (eponymous for Europay, Mastercard, and Visa, the companies that developed the standard) in October 2015, and at that late date, it was one of the last countries to make the shift [arstechnica.com]. The upgrade in technology has forced card issuers to send out new, chip-embedded cards to users (which still have magnetic stripes to complete transactions on now-"legacy" magnetic stripe terminals). It also required merchants to upgrade their terminals to be able to accept the new credit cards. Credit card networks like Visa and MasterCard instituted a liability shift in October to get merchants to speed things up on their end—either upgrade your terminals or you’re liable for any fraud that happens with a card that could have made a transaction using the chip technology.

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