8 years ago
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No More Swiping: New Credit Cards Designed To Reduce Theft
For the black magnetic stripes on the backs of your credit and debit cards, Thursday will mark the beginning of the end — a shift that could be costly for retailers. Since the beginning of credit cards, merchants were never liable if a thief used a stolen or counterfeit credit card to shop; the bank issuing the card usually made both the customer and the store whole.
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The US still didn't replace all the credit/debit cards with smartcards? I never had a card without a chip.
They're just being phased in, I just received the new terminal at my storefront that can read the chipped cards. None of my customers have them yet however...