Businesses face deadline to prepare for chip credit cards

Charles: BY NOW YOU'VE PROBABLY RECEIVED UPDATED CREDIT CARDS THAT HAVE THE COMPUTER CHIP IN THEM NOW THE BIG CHANGE IS BEING MADE TO REDUCE HACKING AND PROTECT CONSUMERS FROM IDENTITY THEFT

BUT AS MARILYN MORITZ TELLS US, NOT ALL BUSINESSES ARE READY Reporter: AT JAY GREEN JEWELERS, THERE ARE DIAMONDS, SAPPHIRE, AND PEARLS, BUT THIS IS THE NEWEST GEM, A CREDIT CARD READER DESIGNED TO FIGHT FRAUD I'VE BEEN HIT IN MY OWN BUSINESS NO MATTER HOW VIGILANT YOU ARE THERE'S ALWAYS TRYING TO FIND A WAY TO BEAT THE SYSTEM Reporter: NEWER CREDIT CARDS HAVE A HIGH-TECH CHIP IN IT SO IF IT'S CAPTURED BY HACKERS IT'S LIKE GETTING AN OLD PASSWORD

THEY CAN'T BE EASILY DUPLICATED FOR BUSINESSES IT MEANS UPDATING TERMINALS COME OCTOBER 1, A BUSINESS WHO DOES NOT USE THE CHIP TECHNOLOGY AND IS HIT BY A FRAUDSTER, THEY ARE LIABLE FOR THE COST SOMEBODY COMES IN AND SPENDS $15,000, $20,000, THAT'S A BIG HIT Reporter: OUT OF 20 BUSINESSES I CALLED, ONLY THREE WERE PREPARING TO BE ABLE TO ACCEPT THESE CHIP CARDS

COST OF DOING BUSINESS COST IS ONE REASON, BUT AS THE TWIG BOOKSHOP, THE MANAGER SAID THE COST OF NOT DOING IT IS HIGHER I THINK IT'S IMPORTANT BECAUSE THIS DAY AND AGE WE JUST RECENTLY HAD SOMEONE WHOSE CARD HAD GOTTEN HIJACKED AND SO JUST DEALING WITH THOSE KINDS OF THINGS, IT WILL MINIMIZE THAT Reporter: IF YOU DON'T HAVE A CHIP CARD, IT'S COMING IN THE MEANTIME YOU CAN CONTINUE TO SWIPE

MARILYN MORITZ, KSAT 12 NEWS Charles: NOW THE CHIP WILL NOT END ALL CREDIT CARD FRAUD