While banks have issued hundreds of millions of more secure chip-enabled payment cards in the U.S., only around 20% of Visa merchants currently have chip-card readers up and running. If you’ve used one of these cards at a store, you’ve likely experienced the odd, silent wait as your card sits in the reader, seemingly taking forever for approval. An upgrade from Visa aims to shave a significant amount of time off this process. [More]
chip-enabled cards
New Credit Card Rules May Make It Difficult To Purchase Gift Cards
By 3.8.16
If you recently tried to purchase a gift card and were told you had to use cash or had to stick to a smaller denomination, you’re not alone. The way in which retailers sell gift cards has changed in the five months since new credit card rules went into effect. [More]
States Ask Banks, Credit Card Companies To Hurry Up With The Chip & PIN Cards Already
By 11.16.15
The deadline has come and gone for most retailers to install new microchip-scanning credit card readers in stores, but many stores are still waiting to introduce the devices because a lot of banks and credit card issuers have yet to issue the more secure cards to customers. In the hope of resolving this stalemate, attorneys general for eight states and the District of Columbia have called on the nation’s biggest banks and card networks to start pressing the new plastic ASAP. [More]
Chase Says It Will Replace All Debit Cards With Chip-Enabled Cards
By 5.12.15
After an earlier report that it would do so, JPMorgan Chase says it’ll be reissuing debit cards for all its customers, replacing the old magnetic strip cards with those containing microchips for increased security. [More]
