EMV Credit Cards Interview with WBZ Radio Boston
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Wednesday, September 30, 2015 with Jeff Brown of WBZ Radio Boston about the September 2015 EMV Credit Cards survey. The interview and transcript are below.
Jeff Brown: The so-called deadline tomorrow for merchants in the United States to be able to accept credit cards with computer chips embedded in them instead of the simple magnetic stripe. This is a high-tech security feature and most merchants are going to miss this deadline. Matt Schulz of CreditCards.com tells WBZ this could be costly error on merchants’ part.
Matt Schulz: There’s a lot of money at stake for businesses that miss this mark. There’s the potential that they could find themselves liable for any credit card fraud-related losses that happen after October 1st.
Brown: Now retailers say it costs a lot of money in the first place to make the switch – from the equipment cost to the training of employees cost. Regardless, tomorrow any card in your wallet will continue to work pretty much anywhere.