Forum Discussion
Just_Lee
Aug 11, 2015Explorer
JackD wrote:
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.
I was told that exact thing today by a Representative at Pentagon Federal, who's cards have been chipped for at least 2yrs... Also our new Discover Cards are chipped.....
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