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MAG CEO, Mark Horwedel, Quoted in "Chip Credit Cards Give Retailers Another Grievance Against Banks"

A customer uses a credit card at the Hub, a gas station and convenience store in Dickinson, N.D. Jared Scheeler, an owner of the business, said it cost the average convenience store $26,000 to upgrade its gas pumps and point-of-sale terminals. CreditAndrew Cullen for The New York Times

The employee perched on a stepstool by the checkout at Trader Joe’s in Union Square in Manhattan is like an air traffic controller: Register 6 for one customer. Register 9 for the next.

The routine helps move traffic quickly through the store, where the lines can often snake around the aisles of whole grain cereal, mixed nuts and Fair Trade coffee. Trader Joe’s, like many retailers around the country, recently upgraded its payment terminals around the Oct. 1 deadline to accept debit and credit cards with a new security chip.
 
The timing, retailers say, could not be worse.

Read the full article: http://www.nytimes.com/2015/11/17/