Forum Discussion
JackD
Aug 11, 2015Explorer
Today, if an in-store transaction is conducted using a counterfeit, stolen or otherwise compromised card, consumer losses from that transaction fall back on the payment processor or issuing bank, depending on the card's terms and conditions.
Starting sometime in the fall (October 30th??), the cost of a fraud done through anon-chipped card will fall back on the merchant..... which quite an ''incentive'' to get rid of the old swipe- card-technology a.s.a.p.
Starting sometime in the fall (October 30th??), the cost of a fraud done through anon-chipped card will fall back on the merchant..... which quite an ''incentive'' to get rid of the old swipe- card-technology a.s.a.p.
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