Payments providers and merchants need to educate clerks and customers about the conversion to chip cards.

The first deadline for the EMV liability shift will occur right before the 2015 holiday shopping season. At the turn of the 21st century, the Y2K bug threatened to disrupt much of the world’s information infrastructure. The EMV shift could do the same, but like Y2K, if proper preparations are made, then the EMV shift could be a nonevent for cardholders.