From swiping…to dipping.
It’s a change consumers will have to get used to.
October 1st marks the credit car
d companies’ deadline for EMV cards…Otherwise known as ‘chip and pin’ cards.
Starting Thursday, businesses will be held liable for any fraudulent transactions if they cannot process EMV chip cards in their stores.
However, according to a recent CreditCards.com survey, 60% of consumers around the country have not received these chip-enabled cards and many businesses still don’t have chip card readers in time for the deadline.
Most shoppers we saw out and about Thursday in a Yuma Walmart, were still swiping their credit cards, but the consumers we talked to said they are happy about the change.
The new cards feature a small, metallic microchip on the front.
The chip-embedded cards are supposed to be more secure and make it harder for hackers to steal your personal information.
That’s because each time a chip-enabled card is ‘dipped’, it creates a unique transaction code that cannot be copied.
However, the Better Business Bureau of Yuma warns consumers to still be careful.
They say you still need to be cautious when shopping online because the new chip will not protect the information you enter on a website.
If you haven’t received a chip-enabled card yet, the BBB says you can contact your bank or credit card company to get new chip-enabled cards mailed to you.
They say most consumers should have chip-enabled cards by the end of the year.