RICHMOND, VA (WRIC) — It’s just about six months after the deadline for all stores to upgrade card readers, but new studies are showing a surprising trend for what was supposed to be a sweeping update.
Research is showing nearly half of stores haven’t even updated those card reader terminals yet, and nearly half of stores that had some kind of data breach, again have still not upgraded.
But for consumers near 60% of shoppers say chip readers aren’t that important.
On the shopper side of the upgrade, over 40% of people surveyed didn’t even know if they had a smart chip card.
And well over half of shoppers said they didn’t even know the differences in card security.
Just under half of people falsely believed debit cards are safer from fraud than credit cards.