Re:Ask HN: Why are credit card chip readers so slow?
by kuschku on Monday June 26, 2017 @07:31AM
(#14635907)
The transactions with PIN are more expensive for merchants, but the merchant isn’t liable. They are done via the EC network.
The transactions with signature have lower fees, but the merchant is liable, and you’re actually authorizing them to do a Bankeinzug via the Elektronisches Lastschriftverfahren.
EC transactions are done instantly, ELV are done overnight.
The transactions with signature have lower fees, but the merchant is liable, and you’re actually authorizing them to do a Bankeinzug via the Elektronisches Lastschriftverfahren.
EC transactions are done instantly, ELV are done overnight.