If you have received a new credit card recently it probably contained an EMV chip. You may not have noticed it because most US retailers still let you swipe to pay. However, that will start to change soon. Starting October 1, 2015 US merchants will be responsible for fraudulent charges if they’re still using the old “swipe and sign” system and don’t accept chip-enabled cards. On the flip side, the bank will have to cover the loss if the retailer accepts EMV cards but the bank has not provided one. The transition will take time but this change in liability will incentivise both card issuers and retailers to make the change quickly.
The way you use your credit card is about to change as well. You will no longer swipe but dip your card instead.
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