Another interesting thing about the chip card is there's going to be a shift in liability. Whereas the credit card processors and companies used to take on liability for a number of different types of fraudulent transactions, with the introduction of the chip they're now moving that liability back onto the merchant. So somehow the costs are increasing and the liabilities they're taking on are decreasing, because chip is more secure and because they're transferring the liability for what they can't bring out of the system back to the merchant. So it's very concerning for us.
On May 12th, 2009. See this statement in context.