In a move to protect U.S. consumers and their credit cards, American retailers will begin using Europay, MasterCard, and Visa (EMV) technology on Oct. 1.
EMV is more difficult and costly by fraudsters to copy, by using microchips and one-time transaction codes rather than storing data. It’s been widely used in Europe and other parts of the world for quite some time now, resulting in difficulties for American credit cardholders traveling overseas.
Road Warrior Voices reports that the liability for fraudulent activity will transfer from card issuers to merchants who don’t switch to EMV by the Oct. 1 deadline.
It’s recommended that cardholders call their credit card company to request a chip-embedded card.
