Tomorrow (Oct. 1) is the deadline for retailers to be able to accept the new charge cards with RFID chips on them, or face greater liability from card fraud.

Many, particularly small retailers and shops and restaurants, will miss the deadline – because the new readers cost $600 apiece, for one thing, and because, if my story in today’s Monitor is any guide, fraud isn’t that big a problem for them.

The chip generates a unique transition code each time it is activated, so that you can’t swipe the data from a purchase and use it to make more purchases.

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