That ATM at the Bar Could Go Away as Chip Cards Loom
- With October deadline from MasterCard, ATMs rush to change
- Hardware, software and maintenance costs of switching are high
Hemlock Tavern
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That ATM in the dark corner of the bar could be on its way out.
By October of this year, ATM owners in the U.S. have to replace or upgrade their machines to accept chip cards or face liability for certain types of fraud. But the upgrade and related ongoing maintenance are so expensive that cash-machine operators like Abe Ayesh, who helps manage about 8,000 ATMs mostly on the East Coast, plans to shut down some of them.