On Monday, February 22nd, the Assembly Consumer Affairs Committee held a discussion only hearing to gather information on the delayed implementation of the transition to Chip and Signature. Retailers who were not chip enabled by October of 2015 have been subject to increased liability by Visa and MasterCard for fraudulent purchases made at their stores. Retailers have reported increased chargebacks on transactions that use credit and debit cards since the transition. During the hearing Mary Ellen Peppard, NJFC Assistant Vice President for Government Affairs, shared the difficulties that have been reported by members with obtaining the software and having it certified so they can become enabled to accept chip cards. Ms. Peppard was joined by representatives of other retailers who shared similar experiences. Take a few moments to view the video and article below which highlights Mary Ellen’s interview with NJTV!
NJTV Report: Lawmakers Hear About Delays with Credit Card Chip Readers
By Brenda Flanagan
If you’ve tried to use a new, chip-enhanced credit card recently and found the machine wasn’t working, you’ve got company: specifically, Assemblyman Paul Moriarty, whose attempts to charge-by-chip went nowhere at three big-name stores.
“At each one of them I asked to use the chip technology and I was told, ‘You can’t. You have to slide it, swipe it, we’re not using that right now.’ So I’m not sure what the hang-up is, what the problem is,” he said.