Merchants & Consumers Ignorant 6 Mo. After Smart Chip Transition – CardHub Survey

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CardHub Press Release

It’s been roughly six months since the October 1 deadline for U.S. merchants to upgrade their payment terminals as part of the country’s shift to smart-chip credit cards. As a result, the credit card comparison website CardHub today released its 2016 EMV Adoption Survey, which gauges the sentiment of both retailers and consumers on the transition.

You can find a few additional highlights below:

  • 42% of retailers have not updated the terminals in any of their stores.
  • 43% of retailers that have experienced data breaches in the past 5 years have not updated their point of sale terminals.
  • 56% of people don’t care if a retailer’s payment terminal is chip-enabled.
  • 41% of people say they don’t have (or don’t know if they have) a smart-chip credit card.
  • 62% of people don’t understand the difference between major card security standards.
  • 41% of people falsely believe debit cards protect them from fraud better than credit cards.
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