Wal-Mart chipped store card

[rmduhon]

Just got an email letting me know that they are sending out a new card that is chipped and will be arriving between Sept 15th and Nov 30th.

[UpperNwGuy]

I'm pleased to see them belatedly complying with the October 2015 deadline for implementing the EMV chip!

[Anonymous]

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@UpperNwGuy wrote:

I'm pleased to see them belatedly complying with the October 2015 deadline for implementing the EMV chip!

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Nit - There was no requirement for card issuers to implement EMV by October 2015.  The change was that it shifted liability for fraudulent charges to the entity that is least EMV compliant.  You can certainly make the point that it's foolish for them not to add one earlier but for a CC company the law change wasn't that big of a deal because they were already responsible for fraudulent charges prior to the law change.  What is a big deal is that merchants can now be held responsible if they do not utilize EMV card readers.

[AverageJoesCredit]

Nice to know.

My mind is literally gone, lol, i was wondering who would want a chipped card but then realized you meant chipped

[UpperNwGuy]

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@Anonymous wrote:

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@UpperNwGuy wrote:

I'm pleased to see them belatedly complying with the October 2015 deadline for implementing the EMV chip!

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Nit - There was no requirement for card issuers to implement EMV by October 2015.  The change was that it shifted liability for fraudulent charges to the entity that is least EMV compliant.  You can certainly make the point that it's foolish for them not to add one earlier but for a CC company the law change wasn't that big of a deal because they were already responsible for fraudulent charges prior to the law change.  What is a big deal is that merchants can now be held responsible if they do not utilize EMV card readers.

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Agree, but in this case we're not talking about any old general purpose credit card.  We're talking about the Walmart store card.  I'm guessing that there was some lengthy discussions between Synchrony Bank and Walmart before this change was implemented.  And I'm guessing that these discussions have been going on for the last three years.  The delay surprises me because my understanding is that Walmart installed the chip readers at their checkouts in 2014 well in advance of the deadline and even briefly experimented with requiring the customer to input the PIN if the card had one.  Sounds to me like Synchrony was dragging its heels.

[Anonymous]

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@UpperNwGuy wrote:

...Sounds to me like Synchrony was dragging its heels.

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Synchrony seems to have prioritized placing chips in their Visa/MC co-brand cards over store cards. I understand it's Walmart's store card, but Synchrony shouldn't need a push from Walmart in order to get the cards chipped... Synchrony should've did it on their own. 

[pizza1]

I think its a good thing! My target store card is chip & pin, and I like that! I think we might start seeing more of this.

[Anonymous]

I know somebody with an FNBO card that doesn't get chipped until the card expired a couple months ago. I guess they don't mind shouldering the liability.

[Life_take2]

They must be getting around to those with older cards now because I got my Wal-Mart store card back in Feb and it shipped with the chip but no dip (couldn't resist the rhyme)