Wal-Mart Exec: ‘Anarchy’ Coming in Holiday Transition to Chip Credit Cards

Count Wal-Mart payments executive John Drechny among those upset with the timing of the credit card industry’s transition to “chip” credit cards. In a panel discussion at the Money20/20 payments conference in Las Vegas on Monday, Drechny said the October deadline for merchants to switch over to equipment that can accept new chip cards will cause chaos during the holidays. “We’re forcing anarchy” on the payments world right now, Drechny said.