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That has less to do with chip vs stripe, and more to do with how those terminals interface with the POS. Swiping the stripe at any point during the transaction
by digi_owl 10y ago
That has less to do with chip vs stripe, and more to do with how those terminals interface with the POS.
Swiping the stripe at any point during the transaction is tantamount to handing over your card to the cashier and never looking at the bill.
Here is the thing, the stripe holds nothing more than your card number in machine readable form. On the other hand the chip is doing a full on chain of trust review before giving the final ok to the card issuer.
As for not liable, have fun yakking with their lawyers if you ever need to dispute a transaction...
- 4ad 10y ago> As for not liable, have fun yakking with their lawyers if you ever need to dispute a transaction... When I dispute a transaction, I click a button in a web interface, and it's instant, I don't have to talk to anyone, certainly not lawyers. At another bank I have to call, but when I had to call, it also was instant, no question asked. VISA/Mastercard have very strict rules about how transaction disputes must happen and how long they can take, rules that are very much in the cardholder's benefit, rather than the banks.