New Credit Card Chips Lead To Headaches

Millions of Americans are getting new credit and debit cards with more secure chip technology, and that’s already leading to headaches for companies that rely on working cards to charge their customers every month.

Video and music streaming companies, dating websites, gyms and other subscription-based companies can take a hit when customers don’t update their accounts after receiving a new card with a new number or new expiration date. It’s always been a hassle, but with millions of cards carrying the new chip technology being mailed out all at once, it’s creating bigger problems.

ABC’s Mark Remillard joined us from New York with details.