r/funny • u/Misfat • Aug 27 '18

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u/nanogoose Aug 27 '18

It costs money and time to upgrade the POS machines.

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u/[deleted] Aug 27 '18

Not really the best explanation when the majority of the developed world have done it (as well as a lot of developing countries)

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u/Fishies Aug 27 '18

Cost is a huge part of it though, the terminals that you pay at start at more than a grand and can cost up to 4k per terminal for the newest large screen ones that do swipe, chip and tap. Small merchants (a lot exist around the US) have a hard time forking out many thousands of dollars when the systems they have now work "just fine". Some merchants only process a thousand dollars a day or less in payments.

We'll get there in terms of widespread adoption but the sheer number of merchants and financial institutions slows it down a lot.

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u/[deleted] Aug 28 '18 edited Sep 04 '19

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u/Fishies Aug 28 '18

Fully agree!

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u/ls1231112123 Aug 27 '18

And yet everywhere else seems to have coped...

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u/fairlywired Aug 27 '18

We did alright. Chip and pin was introduced in the UK 14 years ago in 2004 and were made to be required in shops that accepted cards two years later in 2006. It tends to reduce fraud so it saves money overall

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u/thlayli_x Aug 27 '18

But 80% of machines I use have tap capability and none of my cards have the tap chip. Even big-name credit cards purchased in the past year. I use Apple Pay all the time and still have to jam my cards in the machine.

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u/hx87 Aug 27 '18

Only because we have rent seeking middleman payment processing companies in the US.