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House panel hears retailers’ concerns about chip-and-signature cards

22
Oct
2015
House panel hears retailers’ concerns about chip-and-signature cards

EMV_Liability_Shift

Three representatives of small businesses said at a hearing Wednesday that new chip-embedded credit cards need to have added instead of the chip and signature favored by most banks and card companies.

The hearing took place nearly three weeks after an Oct. 1 deadline for retailers to update their payment terminals to accept or face liability for card fraud.

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