“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/
Related posts:
Housing: Addicted to Fiat Money
Will Facebook Also Battle Fake News From CIA, Military-Industrial Complex?
Tennessee to roll out “No Refusal” blood-draw DUI checkpoints for Labor Day
Brazilian Central Bank Launches Intervention Program To Stop The Bleeding
France-UAE satellite deal shaky after US spy tech discovered onboard
Northern Michigan Secession
US Supreme Court Rules Against DMV Disclosing Driver Info
NYPD Spent 1 Million Hours Making 440,000 Marijuana Possession Arrests Over Last Decade
Feds May Cut Off Water For Legal Marijuana Crops
Nigel Farage on "wholesale, violent revolution" in Europe
Second passports not just a “trophy” for the ultra-wealthy
How to buy EU citizenship
Imagine the ‘outrage’ from environmentalists if it had been an oil derrick
Tealet ruffles feathers with expletive-filled bitcoin announcement
A message from Spain to The United States of America