Retailers across the nation are switching to chips starting October 1st

Credit card companies and banks are not going to be held liable anymore if retailers are not using the new terminals and there is a case of credit card fraud

If both retailer and bank have the updated technology, liability falls on the bank.

The chip can help determine if the person using the credit card is legitimate or a fraud

The technology isn’t new, but new to us. It has been used in Europe and Canada where cases of fraud has significantly decreased.

- See more at: http://www.queenschamber.org/events/How-Will-The-New-Credit-Cards-Affect-You-1225/details#sthash.yxJEZmEM.dpuf