Months after a credit card industry deadline for retailers to help keep your financial data safer, research is showing many stores haven’t updated their credit card readers.
“Our survey is showing only around a third of retailers have made the transition,” said Jared Drieling
Business Intelligence Manager for consulting firm The Strawhecker Group.
A credit card industry deadline of Oct. 1 to begin using the new EMV chip-enabled credit cards shifted liability for credit card fraud from the banks to the retailers. Still many large and small retailers are still swiping their credit card transactions. The result, is confusion for shoppers whether to swipe or “dip” their card and millions of transactions at a higher risk for fraud.