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As a consumer that uses credit cards, I don't think of this as much of a problem. All the credit cards I've used have 0 liability for fraud. It's a nuisance if
by xirdstl 11y ago
As a consumer that uses credit cards, I don't think of this as much of a problem. All the credit cards I've used have 0 liability for fraud. It's a nuisance if my card is used fraudulently because I'll be issued a new card with a new card number, but disputing and getting a fraudulent charge removed has never been difficult. In fact, in a lot of cases, the bank is proactive about trying to identify those up front and contacts me.
- gnopgnip 11y agoIf someone steals your chip+pin card and your pin you will probably be considered negligent by the bank. If they steal your credit card and fake your signature you will probably have zero liability.
- kbenson 11y agoDepending on how the liability is defined, I might consider purposefully burning out my chip-and-pin so it falls back to signature authorization. I'm not interested in allowing the credit industry pulling a bait-and-switch on me by promising a new secure system that also shifts liability to me, when the new system is horribly insecure. Luckily, since I live in the US, it looks like they are requiring online auth, so I just need to make sure this includes online pin auth.