What You Should Know About the New Credit Card Chip Rule

Chip-enabled credit cards will now become the standard for consumers and business owners.

Banks and credit companies have been sending consumers plumbing contractors new cards, which look like their old cards but are fitted with a small metallic high-tech chip known as EMV, which stands for Europay, MasterCard, Visa -- the three companies that created the standard. The chip's goal: keeping thieves from easily accessing consumers' personal information. Starting today, retailers and small businesses who have not yet upgraded their credit card networks will be liable for any Visa, Discover or Mastercard credit card trans