Mr. Baumgartner, using existing technology would not work. You could not use the same machines. I think you know what I getting at. Let's be honest, we're dealing with new machines required, and merchants will not be able to refuse. If they're not able to accept the new chip technology and the cards and fees that go with it, they'll be electing to go out of business.
On May 26th, 2009. See this statement in context.