What To Know About New Chip Cards


HOLIDAY SHOPPING SEASON NEARS. THE NEW CHIP CARD SYSTEM TAKES LONGER THAN THE PREVIOUS MAGNETIC STRIPS. AND THAT COULD ADD INSULT TO INJURY. VALLEY NEWS TEAM’S BRADFORD ARICK HAS WHAT YOU NEED TO KNOW BEFORE YOU HIT THE STORES. THE MAGNETIC STRIP IS GOING THE WAY OF CASH AND CHECK. FEWER OF US ARE SWIPING NOWADAYS. “DURING THE HOLIDAY SEASON YOU’LL SEE MORE AND MORE MERCHANTS LOOKING TO SEE IF YOU HAVE AN EMV CHIP.” DAN FISHER DAN FISHER SAYS YOU SHOULD ALREADY HAVE ONE OF THESE… A CHIP CARD. INSTEAD OF HAVING ALL OF YOUR INFORMATION ON THE LITTLE MAGNETIC STRIP… IT’S STORED IN THE MICROCHIP… MEANING YOUR MONEY AND YOUR MIND CAN REST EASY. “WHEN IT’S BEEN IMPLEMENTED IN EUROPE AND IN CANADA, THEIR CARD PRESENT FRAUD RATE, THAT MEANS FRAUD ON COUNTERFEIT CARDS HAS DROPPED ALMOST 60% IN THE FIRST YEAR.” FISHER WHILE THE SAFETY CONCERNS MAY BE ALLEVIATED WITH THE NEW TECHNOLOGY… THERE’S STILL WORRY OVER LONG WAIT TIMES FOR THE BIG BOX STORES. AS STORES LOOK TO OPEN EARLIER AND EARLIER TO GRAB THOSE SHOPPERS… THE TRANSACTION PROCESSING TIME FOR THE CHIP CARDS IS LONGER. “AND THE REALITY IS ITS NEW. ITS ALWAYS GOING TO TAKE YOU DO SOMETHING NEW. THERE’S ADDITIONAL STEPS YOU’LL HAVE TO REMEMBER, SOME PEOPLE WILL TRY TO USE THE MAG STRIPE WHEN THEY HAVE THE CHIP SO THERE’LL BE THAT INCIDENT.” FISHER. BUT FISHER SAYS IT’S A POSITIVE THING. AND HE SAYS MOST STORES ALREADY HAVE IT UP AND RUNNING. “YOU HAVE THE BEST BUYS, YOU HAVE OFFICE DEPOT, YOU HAVE TARGET, YOU HAVE WALMART, MACY’S” FISHER BUT YOU’LL NEED TO SWIPE THE OLD-FASHIONED WAY AT KOHLS AND GORDMANS IN FARGO… IT’S NOT UP AND RUNNING JUST YET. BRADFORD ARICK VALLEY NEWS LIVE FISHER EXPECTS, IN THE NEXT FEW DAYS FOR THOSE REMAINING STORES WITHOUT THE CHIP CARD SYSTEM IN USE, TO PROPERLY TRAIN IN THEIR EMPLOYEES BEFORE THE BLACK FRIDAY RUSH.

, , , , ,

Post navigation

Leave a Reply

Your email address will not be published. Required fields are marked *