Deadline for safer credit cards arrives, but now what?

- With the October 1 deadline looming, many retailers are rushing to upgrade their terminals to accept more secure chip-enabled credit and debit cards.

Several surveys, including one by, indicate that 60 percent of consumers still have cards only equipped with the magnetic strip and not the chip. 

Chip-enabled cards require a dip in the machine instead of a swipe.  The chip-enabled cards are verified via the payment terminal, which offers further fraud protection.

Starting Thursday, retailers that don't accept the upgraded technology may be liable for any fraudulent charges.

Rick Drury, who owns Precinct Pizza in Channelside, has not yet upgraded his system to take the new credit and debit cards. He says he's hesitating because he just spent the money to upgrade his system about a year ago. He does plan to upgrade.

"I'm sure once I get it, I've paid for it, it's in the past, I'll be happy with it. But when you have to write that check, though, it's a daunting check to write," said Drury.

Whether you have a new card with the chip or not, you'll continue to be protected from fraudulent purchases since retailers which haven't upgraded are bearing the burden.

The Florida Retail Federation, a trade group, says it's offering new machines to retailers for a subsidized $99 price. In a statement, the organization wrote:

"These EMV cards provide significantly more security for both the business and the customer. So even though this will require an investment from business owners, we feel the increased security and decreased chances of fraud will mean a win-win for both merchants and customers."

Banks are still rolling out chip-enabled cards, but some consumers won't receive them until 2016.

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