Move to chip cards could make ATMs obsolete

Portland

THAT automated teller machine in the dark corner of the bar could be on its way out.

By October, ATM owners in the US have to replace or upgrade their machines to accept chip cards or face liability for certain types of fraud. But the upgrade and related ongoing maintenance are so expensive that cash-machine operators like Abe Ayesh, who helps manage about 8,000 ATMs mostly on the East Coast, plans to shut down some of them.

"The machines that used to do barely enough to support, do I want to go spend US$3,000 right now for a new machine that's going to take me 3-4 years to get my money?" Mr Ayesh, chief operati…