@CreditCuriousity wrote:
@nyancat wrote:
Thinking about it more, what bothers me most is that there are still some banks (mainly Barclay's and Capital One) treating chip cards as a premium feature for their high-end cards, as if the chip is somehow something customers should pay extra or have a higher-category card for, when it reality it is a basic security feature that, at this point, there's no real excuse for ANY card from ANY bank to be shipping out without.
+1 ... this is what i was getting at with the original post... Everyone MUST do it by next year, why are they dragging there feet. I understand it cost money to do new cards, but there profits out weigh the losses without this feature. FP for frig sakes is doing it, why can't some of the other big banks finally do it as well.. They are just on select cards and this is why you "should" get this card for x big bank. Just funny is all
There is no mandate, and no one "must" do EMV. The card networks have provided an incentive (liability shift) and it is up to stakeholders to decide what to do. If a bank chooses not to issue chip cards, nothing changes. Liability shifts can be ignored. The Mastercard, Discover, and American Express networks have a PIN liability shift as well, yet only Diner's Club is issuing a chip and PIN card on one of those networks.
Thus, it is possible that many smaller banks may decide not to issue chip cards, at least not by next October. It's also very likely that many merchants will choose not to enable chip support. I'd say it's a safe bet that, at least, by next October these merchants will have chip support enabled:
- Walmart (partially enabled, non-secure/non-enforcing right now)
- Walgreens (voluntary commitment to 1Q 2015)
- Target (voluntary commitment to 1Q 2015)
- Home Depot (voluntary commitment end of 2014 - though they're running short on time at this point, so we shall see if that is delayed)
- Best Buy (has terminals already, claimed earlier that they would comply with liability shift deadline)
- Costco (recently purchased new terminals, seems unlikely there would be any reason OTHER than liability shift)
- Bath and Body Works (recently purchased new terminals, seems unlikely there would be any reason OTHER than liability shift)
- Barnes and Noble (recently purchased new terminals, seems unlikely there would be any reason OTHER than liability shift)
- Lowes (recently purchased new terminals, seems unlikely there would be any reason OTHER than liability shift)
- Michael's (recently purchased new terminals, seems unlikely there would be any reason OTHER than liability shift)
- USPS (has capable terminals and a government mandate for government agencies)
There are other shops with new-ish EMV-capable terminals (Staples, Albertson's, ULTA, Aeropostale, Sears, etc) that may get enabled but aren't such new installs that they seem as obvious to me. In some cases, like Aeropostale, these terminals were bought for contactless and have been in for some time - not that they won't enable EMV, it just doesn't seem it was the main point of the install so it is harder to speculate. There are also shops with EMV-capable terminals like Wet Seal that have ancient terminals and seem UNLIKELY to ever enable EMV on their existing hardware - because the hardware is so old, my understanding is the cost of kernel certification is likely to be uneconomical given the short remaining life probable on their terminals.
That is not an absolute, though, as Walmart enabled EMV earlier this year on their Ingenico i9550 terminals at their self-checkouts, which have now been replaced with Ingenico iSC250 terminals. I'm not quite sure why they did this, it seems odd to me, but they did. The new iSC250's are also TERRIBLY installed for EMV - they're mounted nearly vertical and you cannot see the EMV slot standing at the self-checkout, you have to know it's there and insert the card blindly. It also requires a degree of dexterity some may not have.
P.S. here's a photo of one of these. Bunch of real brains there too, plotting how to destroy the evil chip *sighs* - http://hardforum.com/showthread.php?t=1826256
American Express Blue Cash Everyday - $11,000; American Express Platinum Cashback Everyday - £3,000; American Express Rewards Credit Card - £7,500; Aqua Reward Mastercard - £3,500; Bank of America Travel Rewards - $5,000; Barclaycard Freedom Rewards - £3,500; Citi Forward - $5,800; Discover It - $10,000; Halifax Clarity - £1,500; HSBC Platinum with Rewards - $5,000, MBNA Everyday Plus - £3,500
