In the UK at least, if the card is swiped rather than chip & pin then the card company may refuse to cover fraud losses and the merchant must swallow it. If the

In the UK at least, if the card is swiped rather than chip & pin then the card company may refuse to cover fraud losses and the merchant must swallow it. If the same fraud happenned via chip & pin, the merchant would've been "insured". http://www.theukcardsassociation.org.uk/cards-transactions/card-present-transactions.asp#content_1312 http://www.theukcardsassociation.org.uk/cards-transactions/c...