Thirty-four percent of merchants interviewed late last year for an Aite Group research report on EMV readiness had never heard of the U.S. migration to EMV-chip payment cards, despite the fast-approaching October 2015 deadline set by the card networks.

Furthermore, of the more than 400 merchants surveyed, 46% said they had not yet begun any preparations for EMV acceptance. A company that misses the October deadline faces a shift in fraud liability (gas stations have until October 2017).

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