In October 2015, credit card companies released EMV chip-enabled cards, designed to reduce the amount of identity and credit card thefts. Despite their best efforts, though, the industry has faced several issues over the past year in implementing the new system. Many retailers still do not have chip-enabled readers activated, and some card issuers have yet to send chip-and-PIN credit cards to consumers.
The new system has come under fire for several reasons. Consumers have complained about the length of time it takes for the EMV card to authenticate, leaving them standing in the checkout line for longer. Retailers have had issues getting their chip readers approved and activated. Many ha...
from MoneyTips http://www.moneytips.com/retailers-reflect-on-a-year-of-emv-credit-cards/396
No comments:
Post a Comment