US stores are expected to accept chip-and-PIN credit cards today, but most aren’t ready

Today is the day that every merchant in the US is expected to have new terminals installed that can accept chip-and-PIN cards, the secure credit card technology that is ubiquitous in Europe and Canada and has been proliferating throughout the US for the last year. While the US is the last major market using the signature system for credit card authentication, the 10-year-old chip-and-PIN system still hasn't caught on thanks to comparatively robust fraud protection systems in the States. Back in 2012, Visa and MasterCard instituted a liability shift that would shift fraud responsibility to merchants who haven't switched to chip-and-PIN-compatible terminals by October 1st, 2015. While this would seem to be incentive enough for merchants to get on board with chip and PIN, it…

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