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Large banks believe they will enjoy a liability advantage over merchants if they can issue their credit and debit cards with an EMV conforming computer chip prior to the October 2015 liability shift.

“The larger banks believe they will have an opportunity for a liability advantage if they have EMV enabled cards ready by October 1,” explained Julie Conroy, research director for Aite Group’s Retail Banking Group. “There is no way that that the retailers are going to be ready by then, so this is a chance for the retailers to share some of the fraud pain,” Conroy said.

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