chip readers allow us to not have liability shift. i would imagine you are an established business but for somebody entering into the restaurant industry and can t get their hands on these it would be a barrier to entry. obviously. it is how you take the order, send it to the kitchen and payroll. dana, we reached out to toast, the maker of this product in particular and you will see them at a lot of restaurants. we haven t heard back from them how the chip shortage is impacting their production of these devices. dana: the cascading problems because of this chip shortage. good to see you this morning. bill: new york city giving criminals a pass after a new report showing city prosecutors dropped about half the cases against those arrested in last summer s riots. the business owners targeted by that looting say the city has failed them. i do not blame the nypd.
companies will stop requiring to you to sign your name when using a credit card. the old security measure has been around for decades. who really sits there and signs out their name. the recent move to chip readers has basically made credit card fraud much more difficult. david lee miller explains. do you have a photo i.d.? reporter: it s the end of an era but one that few people notice. beginning this month signatures will no longer be required when using a chip enabled credit cards. this began two years ago when chip technology was introduced. it significantly reduced fraud because they re difficult to counterfeit. many her chance an merchants ant card industry said it increased waiting time at the cash register. it is somewhat of a tradition. we think that we assign value to
beginning this month credit card companies will stop requiring to you to sign your name when using a credit card. the old security measure has been around for decades. who really sits there and signs out their name. the recent move to chip readers has basically made credit card fraud much more difficult. david lee miller explains. do you have a photo i.d.? reporter: it s the end of an era but one that few people notice. beginning this month signatures will no longer be required when using a chip enabled credit cards. this began two years ago when chip technology was introduced. it significantly reduced fraud because they re difficult to counterfeit. many her chance an merchants ant card industry said it increased waiting time at the cash register. it is somewhat of a tradition.
who were always there with her and for her. the half sister, who has had no contact with markle for years, promising more in an upcoming tell-all. a kensington palace spokesperson declining to comment. and no signature required. a sign of the times for three major credit card companies. american express, mastercard and discover all announcing that starting in april, they will no longer require your signature to complete a purchase. the move meant to make shopping faster and more convenient. the companies insist security will not be compromised, citing new technology like chip readers. and when we come back, as the year comes to a close, we celebrate the lives and the .ames lost in 2017. at carmax, we ll buy your car even if you don t buy one from us. because maybe you re already buying a car somewhere else. or maybe you want to shop around. or, maybe you don t want to drive a car at all anymore. like, maybe you want to ride a camel into the dessert and take a deep hard look within.
replaced. and 8 million merchants need to upgrade their terminals to accept those chip cards. the good news is because this is the start of the migration, when you do get your new chip card in the mail, it will still have the magnetic stripe on the back just in case you go to a merchant that doesn t have the chip readers yet. but for the foreseeable future as we take care of this upgrade and attack the cyber crime that we re really trying to push out with these new chip cards, these cards will continue to work everywhere you shop. and that s at the heart of this. the cyber crime industry is booming. and i know that you have some small businesses who say they have to pay for these new machines which makes it difficult for them, but in reality, the costs of all of the cyber theft that s taking place, and by the way, we are behind europe in implementing this technology. so when we say state of the art, we re really kind of following here. well, that s exactly right. and, of course, it