It certainly *is* possible, but not if the card is "swiped" through the reader (since that copies the actual expiration date printed on the card and stored in the magnetic strip).

What the merchant does is to enter the card number (as though it were a "card not present" transaction, e.g., by phone or mail) and then adds two or three years to the expiration date listed on the card, since card companies usually extend the validity by such a period.