Thursday was supposed to be the deadline for US Credit Card customers to start using new cards with embedded computer chips, but it seems there’s a delay in the roll-out of the program.
The small chip is supposed to make transactions more secure. Instead of swiping a chip credit card, customers will now have to insert the end of the card into a card reader.
There’s a change on the merchant’s end as well. Stores have to get new EMV technology to read the new cards.
Officials say 6 out of 10 credit card customers don’t yet have chipped cards and only 27 percent of retails have the new processors. Credit card companies say customers should get new cards by the end of the year. In the meantime, your old card will still work at stores.
Photo by MoneyBlogNewz
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