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Nothing. And algorithms. I've had a card number ripped off via an online retailer and Visa figured it out on the first fraudulent charge.
by SaintGhurka 6y ago
Nothing. And algorithms.
I've had a card number ripped off via an online retailer and Visa figured it out on the first fraudulent charge.
- chrisseaton 6y agoRight... but someone somewhere must be paying the bill? If I buy a sandwich with a card I found on the ground and get away with it who's paying for that sandwich? The card owner? The store owner? The card provider? In the UK it's the store... unless they made you use chip and a PIN. Which is why they all use the chip and a PIN. Then it's the card provider, but it's not because the chip and PIN prevents fraud before that point. I think the card provider eats contactless payments because they encourage more of them so it adds up in the end.
- toast0 6y agoIn the US, if it was a chip and nothing transaction, the bank probably covers it. If it was a magstripe transaction not at a gas pump, the merchant covers it. Card holder liability on timely reported loss or stolen card is capped at $50 or something.