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For online transactions almost all liability is with merchants. Seems like unless chip is used then offline transaction fraud liability is also on the merchant
by chrischen 5y ago
For online transactions almost all liability is with merchants. Seems like unless chip is used then offline transaction fraud liability is also on the merchant (otherwise that shady convenience store wouldn't have any reason to check your signature/ID all the time).
- fpoling 5y agoThe article pointed out that with the new system the online transactions liability shifts to the banks. Thus the article claims banks may reject a payment request if they consider the merchant suspicious.