Chip vs. Strip

not to swipe your credit or debit card. those chip readers were supposed to be in place a year ago… but many stores aren’t equipped yet. so is that a threat to the safety of your money? new at 10… krdo newschannel 13’s greg miller is asking that question… and greg, it’s not just the businesses… many customers don’t have those cards yet. these new cards were made to prevent counterfeiting… those swipe strips behind the card are decades-old technology … but even though the chips are supposed to be safer, a lot of places still aren’t taking them… and some believe it’s because of money. swipe your card – money comes out. plug your card into the chip reader – same concept. except… sot: the swipe i’ve heard is a lot faster, and since i’ve got one i’ve noticed it takes a lot longer. that’s only if the chip reader is activated… in 25- percent of companies. 0:19 everywhere i go, credit card machines say ‘no chip reader here’. we went inside three chain stores, a starbucks… where the chip reader didn’t work. a jimmy johns… we handed the card to the cashier to swipe… and same story at a chipotle. standup: all three places and none of them had a functioning chip reader. when this whole thing debuted last year, the promise was it would make your card more safe. so are you at risk now? sot: it’s supposed to eliminate the cloning of your credit cards. but an online safety expert believes there is still a risk. sot: skimming is still alive and well and it will continue as long as that magnet stripe is still on the cards. the transition has been slow by credit card companies – only 75 percent of card users in the u.s. have the chip… sot: my girlfriend was visiting from britain and she was making fun that my card didn’t have a chip. and it’s expensive to get the readers installed and certified. so as customers and businesses try to get on the same page in a confusing transition – avoiding the problem … sot: i’m more of a cash guy… and a basic credit card. may not be so bad. now that shift last year basically just reassigned liability for any fraudulent purchase from banks to the merchants. you the consumer are still protected. companies who have not gotten onboard are not doing anything illegal. live in cs, gm, nc 13. the death toll