fj12ryder wrote:bob_nestor wrote:Not exactly correct if what I've read is so. If there is no chip card reader, the credit card company is not supposed to be liable for fraud if the card is used fraudulently. The problem is supposed to be the problem of the bank issuing the card, not necessarily the CC company. And the merchant is not liable either. This is supposed to cause the CC issuers to put pressure on the vendors to install chip readers. So far, not so much.
I wonder if these limits at the pump have to do with the change over to chip readers. I know that for other merchants the liability for card fraud switched from the bank to the merchant if the merchant didn't have chip readers installed by a certain date. For transactions processed by a chip reader the fraud liability is with the bank. The only chip readers at gas pumps that I can recall are the ones I used in Canada this summer.
