Spotify, others downplay chip card woes cited by Netflix

Spotify and some other online companies on Thursday played down the impact of a transition to chip-based bank cards a day after Netflix Inc blamed the shift for slow quarterly U.S. subscriber growth. U.S. lenders have been sending out new debit and credit cards with security chips ahead of an industry-imposed Oct. 1 deadline. Netflix, which relies on monthly payments from customers, said many did not update credit card data, leaving on file old cards which didn't work.