60% still have old credit cards as Oct. 1 EMV card deadline looms

October 1, 2015 1:12 PM

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60% still have old credit cards as Oct. 1 EMV card deadline looms

Though the credit card industry’s self-imposed deadline is Thursday, more than six in 10 American card holders still don’t have chip-enabled credit cards in their wallets, and retailers are nowhere near ready, according to a new survey.

Starting Thursday, merchants will be held fully liable for any losses due to credit card fraud if they are not geared up for the new, more secure, chip cards. And consumers will need to change their habit of swiping their credit cards to pay: Instead, they "dip" their new cards into terminals and l...

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