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American consumers aren't responsible for fraud on their credit cards (technically only up $50 or something but in practice not at all). That means that they do
by bradleyjg 10y ago
American consumers aren't responsible for fraud on their credit cards (technically only up $50 or something but in practice not at all). That means that they don't care much about security as compared to the inconvenience of having to remember and use a PIN.
- function_seven 10y agoAll the more reason for the credit card companies to insist on implementing PINs, right? Since they're the ones eating the fraud.
- icebraining 10y agoNo, it's the merchant that eats the cost, they have to return the money from the fraudulent payment.
- function_seven 10y agoAh, good point. I guess this circles back to Home Depot's complaint then. All the merchants would have to band together somehow to insist on Chip-and-PIN.
- germanier 10y agoThat can't be the reason for the difference because (roughly) the same applies to the European market.