Survey: More Than 70 Percent of Businesses are Not EMV Compliant

Last week, we told you how consumers are becoming frustrated with how long it takes those new EMV-compliant debit and credit cards—the ones with the chips embedded in them—to process payments at checkout.

However, despite the fact that the October 1 deadline has come and gone for retailers to install EMV compliant card readers in their stores,  even as the holiday season approaches and the risk for credit card fraud is at its highest. Fattmerchant said that 93 percent of the participants in its survey were small business owners.

Further, Fattmerchant found that 36 percent of business owners had no idea what the switch to the EMV-compliant terminals meant.