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Not quite. If I understand correctly, as of that date Chip and PIN will be encouraged, by charging higher fees to merchants when they fail to do a chip and PIN
by mcherm 12y ago
Not quite. If I understand correctly, as of that date Chip and PIN will be encouraged, by charging higher fees to merchants when they fail to do a chip and PIN transaction.
- dustinchilson 12y agoNo just higher fees but the merchant becomes liable for fraudulent transactions processed without chip and pin. Whereas before the big card brands would cover more the risk and fees.