Traditionally, credit card companies have taken the hit when a counterfeit card is used for a point-of-sale transaction, but as of October 1, 2015, MasterCard and Visa are shifting the risk onto the issuers and merchants for counterfeit card transactions if the issuers and merchants have not switched to chip card technology.  This change, while an improvement, still will not bring the U.S. current with the international marketplace, which uses the more secure “chip-and-PIN” method.  This article explores the chip technology involved in the liability shift and its strengths and weaknesses, as well as how affected companies are preparing for the liability shift, and for improved technology that may follow soon.