The Credit Card Chip - Who is liable for fraudulent purchases?
The Nationwide Shift to an EMV Credit Card (chip) is Well Underway in the U.S.! EMV or better known as the credit card with the chip, is the latest technology used to protect consumers and reduce the risk of fraud. If you are a merchant or financial institution and have not adopted chip technology after October 1, 2015, the liability could shift to you. 1. If fraud occurs after EMV cards are issued, who will be liable for the costs? If fraud occurs when a chip card is inserte