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Exactly. It is not a requirement. It is merely a liability shift so the merchant (CVS in this case) will be liable for fraudulent charges if they do not use chi
by mattkrea 11y ago
Exactly. It is not a requirement. It is merely a liability shift so the merchant (CVS in this case) will be liable for fraudulent charges if they do not use chip & pin. In this case it seems they just went that way to play it safe.
- zatkin 11y agoSeems that I've got my facts misaligned. Thank you for the clarification.
- minimaxir 11y agoLiability shift does not apply to NFC payments, and only impacts generally if chip processing is available but not used. (And since CC issuers are pushing out Chip cards, this is becoming a concern for merchants) More info: http://www.emv-connection.com/downloads/2015/05/EMF-Liability-Shift-Document-FINAL5-052715.pdf http://www.emv-connection.com/downloads/2015/05/EMF-Liabilit... The linked NYTimes article suggests a different justification for the blocking of NFC payments by CVS.