In 2015, the US became the last developed country to migrate to EMV – a new more secure payment acceptance system. EMV has had tremendous success in many other countries, such as the UK, Australia, and Canada, in curbing credit card fraud. Merchants in the US are now required to upgrade their payment technology to accept EMV cards to avoid the liability of any chargebacks due to fraud. Many big box retailers have proactively upgraded their payment technology to accept EMV, however, many small merchants are falling behind.
