Re:Credit Card Signatures Are About to Become Extinct in the...
by chimeracoder on Monday April 09, 2018 @11:07AM
(#16793582)
> ...except card fraud lossed are recharged to the merchant so perhaps they don't care?
For a long time after EMV chips were introduced, the liability was actually shifted back to the customer. EMV chips were initially a huge step backwards for customer protection, and it took some years before this was fixed in law across Europe.
Nowadays, if you see a merchant who can't accept EMV chips, it's likely their POS vendor who's liable. The merchant is liable in theory, but some vendors still don't provide EMV-capable terminals, so they've agreed to assume the risk until they do.
For a long time after EMV chips were introduced, the liability was actually shifted back to the customer. EMV chips were initially a huge step backwards for customer protection, and it took some years before this was fixed in law across Europe.
Nowadays, if you see a merchant who can't accept EMV chips, it's likely their POS vendor who's liable. The merchant is liable in theory, but some vendors still don't provide EMV-capable terminals, so they've agreed to assume the risk until they do.