A grocery store chain in Florida made headlines last week for filing a lawsuit against a consortium of credit card issuers for delaying their certification to process payments on the EMV (chip card) payment network. They aren’t alone, though: many other medium-size chains and other businesses have had their certification delayed, which is costing them thousands or tens of thousands of dollars now that they’re liable for fraudulent transactions.
Last month, we shared speculation from some experts about the possible reasons why retailers have installed new payment terminals, but are still only using the magnetic stripe slot. They speculated that smaller retailers didn’t expect to be targets for fraud, or didn’t want to take the time to instruct people in their communities about how to leave their cards in the readers rather than swiping.
