How Retailers Stack Up On EMV Smart Card Compliance

By now, all retailers theoretically should have upgraded their checkout terminals to accept the newest high-tech plastic. To review, the latest generation of credit and debit cards have dispensed with hackable magnetic strips in favor of embedded chips. While the chips are more secure, they require upgraded payment terminals, and Visa and MasterCard set last Oct. 1 as the changeover deadline, when liability for credit card fraud switched from financial institutions to retailers.