Retailers were supposed to start accepting chip cards last October, but a year past the start of the EMV liability shift, two-thirds still haven’t done so.
Only 2 million merchants, representing 33 percent of the industry, are actively accepting chip cards, according to a data released by MasterCard earlier this month. This is up from 1.4 million in June.
The rest are liable for in-person payment fraud. Before last October, merchants were not liable for fraudulent purchases at physical locations, only for “card not present” purchases such as those made on ecommerce sites.
To read this article in full or to leave a comment, please click here