in most of the world, the credit card companies told vendors that they'd have to be liable for any fraud committed through payment terminals that hadn't been up

in most of the world, the credit card companies told vendors that they'd have to be liable for any fraud committed through payment terminals that hadn't been upgraded to chip and pin. so every vendor upgraded their terminals. in the US, credit card companies continued to accept liability for magstripe transactions up until a couple years ago. i think it was an attempt to hold onto their absurdly high market share in the US - most other countries have higher debit card usage.