While chip implementation in the US is underway, a recent study conducted by the Aite Group found that one-third of small- and medium-sized merchants are still unaware of chip technology.
Chip education and adoption is critical, because as of October 1, 2015, liability for counterfeit fraud on Visa chip card accounts will shift from the chip card issuer to business owners who have not upgraded to chip-activated terminals.
Visa has also launched an online toolkit to help businesses make the transition. The toolkit, available at includes a guide to adopting chip as well as videos, infographics, and other resources to help merchants make the transition to chip-activated terminals.
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