Nearly half the local stores in the UK have taken no action to install technology capable of handling chip and PIN card payments in time for the end-of-year switchover.
A poll of 500 independent retailers by trade magazine Independent Retail News across England, reveals just how far behind many retailers are. After 1 January, any stores without Chip and PIN are personally liable for any subsequent fraudulent payments at the point-of-sale.
Despite the warnings and a high profile advertising campaign to get retailers on board, 59% have taken no action, while 47% do not expect to meet the deadline.
“Not only do the public seem unaware of the new chip and PIN cards, but the retailers expected to accept them are worryingly equally in the dark," says Richard Siddle, editor of Independent Retail News.