“Both MasterCard and Visa have outlined a planned shift to the new EMV system and set a October 2015 deadline to begin using the system, The Wall Street Journal reports. Under the EMV system consumers will use a smartcard embedded with microchip and provide their PIN to complete a transaction. The chips make reproducing a card difficult for criminals. Even if the credit card information is gathered, without the chip the card is useless. Another significant piece of the new system is creating a shift of liability. If a merchant is using the old swipe-and-sign system they are liable for the fraudulent charges if the customer has a chip card.”
http://consumerist.com/2014/02/07/visa-mastercard-to-end-swipe-and-sign-by-2015/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
(Visited 45 times, 1 visits today)
Related posts:
Disabled Duck Gets A New Foot Thanks to 3D Printing Technology
Boy Whose Hot Dog Cart Was Shut Down by the City of Holland Now Homeless
Glenn Greenwald Rebuttal To Washington Post's Walter Pincus
Most Secure Bitcoin Wallet Armory Raises $600k Led by Trace Mayer
The People's Republic of California is Sinking
Accused of War Crimes, White House Closes Down War Crimes Office
Secrets From The Sexist Pitchbook Of One Of Wall Street’s More Notorious Firms
Cop Acquitted After Killing Man Crawling On Hotel Floor Begging for His Life
Former Cyprus President Named In Loan Write-Offs Leading To Banking Insolvency
‘Paradigm shift’: Bitcoin to replace ‘broken’ government currencies?
Don't Privatize the Afghan War—Just End It
Journal Explores Incentive For False Results In Lab Tests For DUI
Mongolia's loosening of foreign investment restrictions 'a positive step'
US Supreme Court Expands Use of Drug Dogs During Traffic Stops
Say hello to Safeplug, Pogoplug’s $49 Tor-in-a-box for anonymous surfing