About 42 percent of retailers have not switched out their payment terminals to meet new requirements for chip card transactions, according to a national survey conducted by CardHub.
[caption id="attachment_131743" align="alignright" width="300"] A chip card terminal.[/caption]
What’s more, 56 percent of consumers say they don’t care whether or not a retailer has a chip-enabled (EMV) terminal.
The 2016 EMV Adoption Survey included 1,000 individuals surveyed in late February, as well as 50 large chains and five smaller merchants across the country.
The survey also showed about 43 percent of retailers who have experienced a data breach in the past five years have not updated their point-of-sale terminals.
About 41 percent of consumers either don’t have or don’t know if they have a smart-chip credit card.
Among individual retailers, WalMart, Target, Walgreens and The Home Depot were all 100 percent EMV compliant as of this month, but stores like Costco, Safeway and McDonald’s has less than 20 percent of stores in compliance.
A big reason for the recent push to issue the chip cards is an Oct. 1, 2015 deadline, known as the EMV liability shift, that began assigning liability to the least chip card compliant of the parties involved in a fraudulent transaction – usually either the issuer or the merchant.