More Than Half of Small Businesses Still Don’t Accept Chip-Based Credit Cards

By The Manta Team - October 2, 2017

More Than Half of Small Businesses Still Don’t Accept Chip-Based Credit Cards

New research from Manta reveals that most small business owners have yet to transition to EMV technology, despite the increased fraud liability.

This month marks the two-year anniversary of the shift to EMV (Europay Mastercard Visa), the global standard for computer chip-based credit cards, which went into effect on October 1, 2015. However, many retailers still aren’t accepting chip cards, meaning they would be held liable in the event of fraudulent transactions.

To determine how the small business community has transitioned to EMV technology, Manta recently surveyed 2,116 entrepreneurs and found that over half (65%) are unfamiliar with the requirement to update their point of sale systems, and 82% either don’t currently accept or are unsure if they accept chip-based credit cards. However, of those who have made the switch to EMV technology, 77% said it was a smooth transition.

The research also explores why businesses still haven’t made the switch, what they would do in the event of fraudulent activity, and whether small businesses can withstand the expenses that come with being held liable for credit card-related fraud.


Are you familiar with the fraud liability shift for EMV credit cards, which went into effect in October 2015?

  • No – 65%
  • Yes – 35%


Does your business currently accept EMV credit cards?

  • No – 56%
  • Yes – 18%
  • Unsure – 25%


If yes, how would you describe your experience transitioning to EMV technology?

  • It’s been a smooth transition – 77%
  • The transition has created longer checkout experiences for my customers – 14%
  • Implementing and training employees has been a hassle/time consuming – 4%
  • It took a significant amount of time for certification by the card industry – 4%


If not, why have you chosen not to adopt the EMV technology?

  • My business does not process payments from credit or debit cards – 35%
  • I don’t know what EMV technology is or how it impacts my business – 34%
  • I don’t see enough customers using chip-enabled cards to make the transition worthwhile – 13%
  • Switching my payment technology is too much of a hassle – 11%
  • I disagree with the liability shift – 4%
  • The card readers are too expensive – 3%


Has your business ever experienced a fraud-related card event?

  • No – 86%
  • Yes – 14%


Could your small business withstand the expense of being liable for fraud without EMV technology?

  • No – 36%
  • Yes – 21%
  • Unsure – 43%


Poll methodology: Between Sept. 16 and Sept. 25, 2017, Manta surveyed 2,116 small business owners via onsite poll. The margin of error is +/- 2.13 percentage points.