Card Industry Delays Continue to Slow Chip Card Transition

Why can’t you use your chip card at your favorite store. Ask you card company. After a year since the deadline for retail stores to get the chip scanners in place. The card companies have been slow to approve thousands of scanners that are sitting collecting dust waiting to be approved. Retailers are ready. But card companies are moving slowly in getting out the approval to activate the chip card readers.

Key Takeaways:

• One year after card companies’ deadline for retailers to accept new chip-based credit cards.
• Retailers have spent billions of dollars to install the new equipment but card companies have failed to sign off on the installations in a timely manner.
• Many retailers have had new chip card readers sitting next to their cash registers for a year waiting for the card companies’ blessing. We wish they cared as much about security as we do.

“Retailers have spent billions of dollars to install the new equipment but card companies have failed to sign off on the installations in a timely manner. Many retailers have had new chip card readers sitting next to their cash registers for a year waiting for the card companies’ blessing. We wish they cared as much about security as we do.”

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