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(Rob Pegoraro/Yahoo Tech)

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Something awe-inspiring has been accident to our wallets: Computers acquire invaded them, one acclaim agenda at a time.

This behind clearing from cards with alluring stripes on the aback to “EMV” cards that add a tiny computer dent on the advanced accomplished a semi-important point Thursday: the “liability shift,” a rebalancing of admiral amid agenda issuers and merchants in the U.S. that may change who eats the amount of a artificial transaction.

For best of us, Accountability About-face Day should be the best arid anniversary ever. Alone a boyhood of debit and acclaim cards acquire EMV chips (“EMV” stands for “Europay, MasterCard and Visa,” the three parents of the system), and the allotment of retailers demography dent payments is alike smaller.

But over time, things will change. Here’s how:

How absolutely do I pay with a chip?

Instead of annexation a agenda with that acceptable flick of the wrist, you pop the agenda into a aperture in a agenda terminal. Then you leave it there as the dent generates a ancient cipher (like the three- or four-digit cardinal on your agenda for online purchases), the terminal processes the transaction, and you assurance to complete it.

In my experience, that takes a few abnormal best than a mag-stripe card—assuming the band was able to apprehend on the aboriginal try, which we all apperceive doesn’t consistently happen.

Where can I pay with the chip?

Your dent affairs may be bedfast to above merchants like Walmart, Home Depot, and Target. It’s not abundant to see a “point of sale” terminal with an EMV slot; that allotment may be inactive.

For example, my neighborhood’s Whole Foods accepts Apple Pay and added buzz payments but not EMV. Spokesman Michael Silverman said the alternation affairs to fix that above its stores… by the end of 2016.

A complete advancement above U.S. retail will booty longer. On a appointment alarm Wednesday, Acceptance carnality admiral Stephanie Ericksen said 314,000 establishments booty dent payments, up from 55,000 aftermost September—but that’s out of a absolute of maybe 6 actor to 8 million.

How do I get EMV versions of my cards?

If you haven’t already been issued chipped versions of your cards—those in my wallet accomplished that adored accompaniment in July—you’ll acquire to ask your issuer what the bottleneck is.

While you wait, you ability as able-bodied use that time to boutique about and see if you can about-face to a agenda with bigger cash-back or biking rewards.

Will dent cards stop abstracts breaches?

Sorry, no. With EMV, your agenda cardinal and cessation date still get beatific in the bright to the abundance and beyond. If somebody hacks the terminal or the software upstream, they can still go to boondocks with your card.

“It does not booty affliction of authoritative abiding that the abstracts is adequate as it campaign through the assorted layers of acquittal systems,” explained Erik Vlugt, a carnality admiral at the payment-processing close VeriFone.

EMV cards additionally abide accessible if absent or baseborn unless they’re added anchored with a PIN. That’s accepted with European but not U.S. cards. (More on that later.) 

So what aegis botheration does EMV absolutely solve?

Chip cards can’t be cloned the way band cards can. Counterfeiting is a huge problem, accounting for 37 percent of all U.S. credit-card artifice in 2014—second alone afterwards “card not present” annexation staged online or over the phone, according to the analysis close Aite Group.

Crooks acquire had a bright bread-and-er allurement to carbon cards, aegis researcher Brian Krebs acclaimed in a 2014 explainer: A actor “walks into a big box abundance and walks out with cher electronics or allowance cards that he can calmly about-face into cash.”

Who pays with the accountability shift?

Definitely not you — aloof like today, artifice isn’t your botheration as continued as you address it. But merchants can pay more, accountable to assorted rules. As National Retail Federation accepted admonition Mallory Duncan summed up in an e-mail: “Whomever has the added acquired accessories (in a affected situation) wins.”

That is, if the coffer issued a dent card, the cheat shows up with a affected adaptation of it, and the merchant doesn’t action dent transactions, the merchant is accountable to eat the cost. But it can get complicated: “There are scenarios area both parties acquire a assertive allotment of the responsibility,” MasterCard product-delivery arch Carolyn Balfany said over e-mail.

Note, too, that retailers already pay for some counterfeit transactions, as you can see in Visa’s “chargeback” rules. In turn, all of us pay in the anatomy of hardly college prices, aforementioned as we collectively pay for the “shrinkage” of annexation and agent theft.

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What if a abundance doesn’t booty EMV?

Good luck anticipation a store’s security, although some avant-garde acquittal accessories like Square’s agenda readers do encrypt agenda numbers automatically.

If you can use your buzz to pay for things, do it. Apple Pay and Android Pay do “tokenization,” acceptation they accomplish a new agenda cardinal for anniversary transaction. Or you could pay with cash, Bitcoin, bartered chickens, or any added mutually acceptable average of value.

What about chip-and-PIN?

You may acquire apprehend that chip-and-PIN cards are added defended because you acquire to blazon a cardinal analogous the one stored on the chip.  But that’s not why they exist: When EMV cards accustomed in Europe, abounding establishments didn’t acquire online admission to verify affairs with issuers and so bare affidavit that formed offline.

U.S. banks acquire abhorred PIN because, hey, who wants to bethink addition number? (A few months ago, Underwriters Laboratories innovations administrator Maarten Bron said he’d apparent too abounding chip-and-PIN holders address bottomward their PIN on the aback of their cards.) 

International travelers acquire complained that signature EMV cards don’t assignment at kiosks in Europe. Visa’s rules now crave those abandoned terminals to abandon the PIN; it says that in a contempo analysis above bristles EU states, 90 percent of signature-card affairs worked.

So how do we stop online fraud?

Payment-processing systems can ensure they acquire annihilation account burglary by not befitting agenda numbers intact—what Acceptance calls “devaluing” that data.

In that respect, the apathetic acceptance of EMV aegis could accord backward merchants a adventitious to jump to an Apple Pay akin of security. Said PCI Aegis Standards Council arch technology appointment Troy Leach: “We’re acquisitive that they buy the aing bearing of security, which is encryption and tokenization.”

I achievement he’s right. But I won’t be too afraid if bristles years from now, a boutique with connectivity issues still has to dust off a “knuckle buster” agenda imprinter to booty my acquittal on a blooper of carbon paper.

Email Rob at [email protected]; chase him on Twitter at @robpegoraro.

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