Up until now, banks shouldered the cost, but this move to EMV is to reduce the amount banks pay to cover fraud charges. If you don't comply by accepting the new chip credit cards, by October you will be financially liable for the loss.
My taxi pulled up to the hotel. I got out my credit card and prepared to pay for the ride. The journey was pleasant enough but little did I know I was about to encounter a bit of psychological trickery designed to get me to pay more for the lift.