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It's a problem for the vendors, not the banks. They get hit with chargebacks for fraud that's no fault of their own, hurting the whole ecosystem of vendors and
by gowld 6y ago
It's a problem for the vendors, not the banks. They get hit with chargebacks for fraud that's no fault of their own, hurting the whole ecosystem of vendors and their customers.
https://www.thestreet.com/personal-finance/credit-cards/credit-qa-who-foots-bill-fraudulent-charges-12790242 https://www.thestreet.com/personal-finance/credit-cards/cred...
- lotsofpulp 6y agoThe problem could be easily solved by Visa/MC/Discover/Amex implementing chip and pin, or at least 2FA SMS authorization. Bestbuy.com has it working somehow.
- jessaustin 6y agoThese people can't configure a firewall. How are they going to implement payments in the secure fashion you suggest?
- lotsofpulp 6y agoI meant that Visa/MC/Discover/AmEx should be forcing the use of chip and Pin or other 2FA methods.