Americans get to face another three years at higher risk of having our payment card numbers scooped up by criminals while we fuel up our cars. The major credit card networks, Visa and Mastercard, have given gas stations an extension, pushing the deadline for them to install payment terminals with chip (EMV) readers back to October 2020. [More]
liability shift
The ATM Liability Shift Is Here, And Most Don’t Have Chip Readers
By 10.21.16
Hey, remember the ATM liability shift? You know, how MasterCard’s liability shift means that the operator of any ATMs not equipped with EMV (computer chip) card readers by October of this year would be liable for fraud, and not the credit card network. That deadline was today, and most ATMs in the wild aren’t yet equipped with chip readers. [More]
Credit Card Forgers Going On One Last Crime Spree While Magnetic Stripe Readers Are Still Prevalent
By 6.17.16
America has long served as a haven for credit card crooks because it’s only recently that we’ve switched to credit and debit cards that use smart chips (EMV). However, criminals are taking advantage of retailers’ delay in installing card readers that use the technology, and holding sort of a fire sale on stolen credit card numbers. [More]
Retailers Frustrated About Chip Card Terminals They Can’t Turn On, Liability For Fraud
By 3.22.16
A grocery store chain in Florida made headlines last week for filing a lawsuit against a consortium of credit card issuers for delaying their certification to process payments on the EMV (chip card) payment network. They aren’t alone, though: many other medium-size chains and other businesses have had their certification delayed, which is costing them thousands or tens of thousands of dollars now that they’re liable for fraudulent transactions. [More]
Supermarket Chain Sues Credit Card Companies Over Costly Chip Card Delay
By 3.15.16
Nearly five months ago, new credit card rules went into effect making retailers liable for fraudulent purchases if they haven’t upgraded their checkout technology to accept more secure, but far from perfect, chip-enabled cards. While some retailers have installed the card readers, many haven’t turned them on. But according to a new class-action seeking lawsuit, it’s not their fault. [More]
Retailers Have Chip-Enabled Card Readers, Aren’t Actually Turning Them On
By 2.16.16
If you’ve received a shiny new chip-enabled card from your bank or credit card company in recent months, then you’ve probably been through this at least once. You see that a store has the slot for your card, so you assume that the store actually accepts them. Silly shopper! The terminal tells you to swipe the magnetic stripe instead. [More]
The Chip-And-PIN Credit Card Era Starts Today. What You Need To Know
By 10.1.15
Over the past few months, you may have noticed more retailers adorning their checkout stands with shiny new credit card readers. While those systems still have an area along the side where you swipe your card’s magnetic strip, they also have a smaller slot (typically) on the front where you simply jam gently insert your card. This is all part of the country’s shift toward more secure, but far from perfect, chip-enabled cards that kicks into high-gear today. [More]
