11 Aug ATMs, shops may not be ready for EMV cards
Experts warn that ATM equipment could run out and merchants won’t get EMV equipment certified in time to protect themselves from liability if they don’t order their upgraded hardware well in advance of an October 2015 deadline.
Card issuers have mandated that U.S. merchants have equipment that is EMV, or smart-chip, enabled by the deadline or possibly face liability for fraudulent transactions. EMV stands for Europay, MasterCard and Visa, the companies that created the chip standard that’s now become dominant globally. Most U.S. merchants and American cards currently use magnetic stripe technology.