Re:Credit Card Debt Collection
by ianburrell on Wednesday September 13, 2023 @01:09PM
(#37499011)
It is less that cards don't have PINs for the chip, but that they still have magnetic stripes. It is still possible to skim the card info. I assume that there is mandate to update equipment but I still see registers with swipe. Issuers can distribute cards without magstripe in 2027. But they keep pushing the date out.
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IIRC with most credit card purchases in the US, if the retailer only takes magnetic strips, they're liable themselves; if the issuing bank doesn't offer EMV cards, then they're liable; after that is the credit card company I believe, who has an option to put up to $50 liability on the owner (though they rarely do).