As we’ve previously discussed, October 1 marked the deadline for retailers to begin using chip-enabled point of sale terminals in order to process credit card transactions. Announced four years ago, the October 1 deadline was known to all in the industry. Failure to comply would mean that retailers would have to pay extra fees to cover the new mandate of counterfeit fraud protection.

However, many retailers have complained that they are unable to obtain the proper certification from credit card companies to use the terminals. They claim that the credit card companies are delaying the issuance of these approvals so as to force the retailers to pay for fraud insurance.

Some retailers are contemplating litigation to protect themselves from these additional charges.