5 ms·

Looks like they have deadline of 10/2020 before visa and mastercard start holding owners liable for fraud if they haven't upgraded to chip readers. https://www

• GoblinSlayer 6y ago
  That's stupid. Just issue cards without stripe and the problem will solve itself.
  • twunde 6y ago
    It's a chicken and egg problem. Gas purchases are on the of the most common purchases in the US. Removing the ability to pay using a credit card would a) piss of owners of the new credit cards, b) likely cause people to use their old credit cards for longer and still wouldn't push gas stations to switch over quickly as most have atms and gas stations could insist on cash payments. Keep in mind that at least some of these gas pumps can't be upgraded but have to be replaced in order to support the new chip cards. What should have been done is a combination of good incentives for upgrading early (maybe reduced fees?) and penalties for not upgrading within a time frame (fraud payments are owners responsibility after n amount of time, increased fees for dealing with fraud)
  • reaperducer 6y ago
    That's stupid. Just issue cards without stripe and the problem will solve itself. I don't see a bank replacing its customers' forms of payment with a new form that isn't accepted in as many places as the old one.