IF YOU ARE IN A RETAIL BUSINESS YOU SHOULD PROBABLY KNOW ABOUT THE SWTICH FROM MAGNETIC-STRIPE CREDIT CARDS TO CHIP-EMBEDDED CREDIT CARDS
According to this item in the Arizona Republic, the change-over from magnetic-stripe to chip-embedded credit cards is going to include upgrading the credit-card readers that retailers use. The suggestion in the article is that if you don’t upgrade, you will be liable for fraudulent magnetic-stripe card use. I imagine that will involve a change to the user agreement between the retailer and the banks or card issuers.
We accept Visa and Master Card at my firm, but we don’t use a card reader. Our volume of credit card transactions is low enough that we don’t need to use one.
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