Chip cards fall behind on expectations

Retailers have the most to lose if a customer's information is stolen

(NBC News) Nearly six months after they said they’d be ready, American businesses are still far behind on the adoption of privacy-protected chip credit cards.

Almost 70 percent of consumers now have the cards, but only a third of businesses can process them.

It’s an issue that involves some monumental finger-pointing between retailers, credit card companies and banks over who’s responsible for getting the chip card terminals installed, certified, and up and running at retailers.

Those retailers have the most to lose if a customer’s information is stolen.

“They become liable for credit card fraud if something happens,” notes senior analyst Matt Schulz. “That’s, that’s a big deal.”

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