The British Retail Consortium said Wednesday that many technical issues on smartcards remained unresolved and it was opposed to the plan by the Association for Payment Clearing Services to begin incorporating microchips onto credit and debit cards from next year.
"The introduction of chip cards will be a costly exercise and the financial implications and benefits to retailers and their customers have still to be addressed," a spokesperson for the BRC said.
Banks have so far refused to discuss with retailers the costs of installing new technology in stores but Apacs responded to the BRC's criticism by saying that it would start to work with retailers on these problems.
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