Page 4 - Chip Card News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To include an up to date expiration date in order for monthly charges to process correctly. netflix blamed the slowdown in new signups on credit cards. it announced a number of new cards weren't updated with the expiration date. in fact, the number was 300,000 short of what netflix and wall street had expected. other hassles include retailers who failed to install the proper credit card readers for the new chip card. and having to remember new pin numbers assigned to the cards. back to you. >> all right. adam schapiro joining us live, thank you. we always appreciate it. to find the fox busin...

Don't you love technology? credit card companies are replacing old cars with new ones with these little silver chips on them. the transition is not going as smoothly as they might have hoped. it is suggested that they will provide better fraud protection. many stores still don't have the technology to read the special chip. brenda butler is a special correspondent. i was out shopping and i have a chip on my card but the place where i went, i couldn't do business. it wasn't free. >> they didn't give it to you? what is the problem? >> i had to go old school and get cash. >> yeah, well, the truth...

Replaced. and 8 million merchants need to upgrade their terminals to accept those chip cards. the good news is because this is the start of the migration, when you do get your new chip card in the mail, it will still have the magnetic stripe on the back just in case you go to a merchant that doesn't have the chip readers yet. but for the foreseeable future as we take care of this upgrade and attack the cyber crime that we're really trying to push out with these new chip cards, these cards will continue to work everywhere you shop. >> and that's at the heart of this. the cyber crime industry is...

In today's money headlines, chips ahoy, early birds and pumpkinpalooza. regina lewis, good morning to you. chips ahoy, we won't talk about a cookie here, but what does this mean for your pocketbook protection? >> well, there's a new card, it's called the emv card which refers to euro pay master card visa. or the chip card referring to a microchip that actually enables something called dynamic authentication. each transaction gets a separate number. this is all aimed towards fraud protection. there's 120 million of the cards in circulation now in the united states. expect it to increase to 600 ...

Customers. joining me is fox business network jerry willis. >> let me get to it. should we stop using credit cards? >> yes. you have several options. a use more cash. not every family can do that. a lot of families bridge the car with cards. and use fewer credit cards. i had an expert say check your credit card every single day. if you have 15 it is hard to do. i got wind of the super chip and pin cards that will protect you more. >> explain that super pin and chip card that protect us. >> enb smart card and chip in pin and microchip embedded in the card and protects your info you know, we toc...