There is a catch, however. Even if customers get a chip card now, they may not easily find a store that accepts it because retailers in the United States have lagged other countries in adopting payment terminals that can process the cards. Some major retailers like Whole Foods, Sam’s Club and Costco already have the systems in place, said Ms. Conroy, but “we’re going to see cards hit the market more quickly than terminals.”
Most big stores are expected to have chip-compatible readers by October 2015. That is when the liability for card fraud that occurs on nonchip terminals will shift away from card-issuing banks, which now bear the brunt of fraud costs, to the merchants.
Phew, I thought they were doing what’s best for their reputation and their customers. Now I understand they are being forced to comply and some will wait until the last minute deadline.
Because of the staggered adoption, most of the chip cards being issued will have the magnetic strips as well, so they can be used even at stores that do not have upgraded card readers.
Choose your merchants wisely and ask for chip enabled readers at your local coffee shop so they know you care.