In a security solution to the problem of credit card fraud, banks have decided to shift the liability for charges made from fake cards to retailers. From October 1st 2015 retailers have been required to install card readers that recognize users chips and are accessed with a customer’s personal pin number. Yet this change, has had a number of knock on effects, that, although temporary, are causing anguish to both customers and retailers.
On the one hand, some customers still have credit cards without the necessary chip. In Europe, when this new system was adopted the transition was rapid (average 36 months), yet in America there are 18 major card processors, meaning the transition could take 6 years. If a customer still has not acquired the new type of card, they will be forced to keep swiping their card.
On the other hand, many retailers have purchased the necessary card terminals and are ready to use them, but are unable to do so. It’s the job of the card processors to personally check the equipment is correctly and legally installed and to certify so. This process can drag on for many months, and there are cases of retailers waiting up to 6 months to get their readers verified. This too is forcing retailers to request that customers continue to swipe their credit cards as before.
However, card swiping is more dangerous now that it was before. Since liability has been switched from banks to retailers, any chargebacks that are forthcoming have to be totally absorbed by the stores themselves. Thus, B&R Supermarket group in Florida has had to face charges of this kind, totaling $10,000 since the changes were implemented. What makes this most frustrating is that the supermarket is patiently waiting for their new credit card terminals to be certified.
According to identity theft guru, Adam Levin, this situation is also serious for shoppers themselves. Since many smaller stores are unable to cover such charges without going out of business, the charges could well be falling on you, the innocent shopper.
This is a despicable situation, but fortunately there is a simple solution. Whenever you are faced with a situation where you are expected to swipe your card to pay a bill, refuse. Simply pay with cash and wait until the situation resolves itself over time. Find out, if you can, which stores do allow you to insert your card and enter your pin. Then you can decide if you want to use the new system.
Bonus: Chip & PIN Fraud
However, the end goal of all this upheaval is that we all make our transactions via ‘Chip and PIN’ as it is called in the UK. The technology has been in Britain since 2005, where they also anticipated the same problems we are having over here. Here’s an enlightening video from Cambridge Professor of Security Engineering, Ross Anderson, as he goes through some of the ways in which ‘chip and pin’ is not the answer to credit card fraud.
Make Your PC Last Long By Avoiding These Common Mistakes
Take note of these tips that will help you prevent damaging your computer's system.
Understanding How to Decode Your Credit Card Number
Ever wondered what those 16 digits on the front of your credit card mean? Let's find out...
Find Siri Underwhelming? Here Are Some Great Alternatives
Take a look at some useful voice command apps for iPhone that might just be better than Siri for you.
What to Do if Someone is Drowning: A Complete Guide
Whether someone is a strong swimmer or not, drowning's always a potential risk. So you need to know how to deal with the situation. Here'a complete guide.
How to Detect Malware in Your Smartphone
Take note of these vital signs that will help you detect any hidden malware in your mobile device and also learn how to get rid of them.
What to Do if Someone is Drowning: A Thorough Guide
Whether someone is a strong swimmer or not, drowning's always a potential risk. So you need to know how to deal with the situation. Here'a complete guide.
12 Clever Ways of Decluttering Your Home of All That Junk
Don't just throw away the junk you have at home, learn to reuse and recycle it the smart way with these 12 clever tips
Can My Dog Eat That? An Important Infographic for Dog Owners
If you want to keep your dog safe and happy, you need to know what foods they can and cannot eat.
You MUST Pay Attention to These Numbers When Buying Fruit
The numbers you see on fruit have much more significance than you think. You can learn everything you need to know about the fruit you're buying from them.
Orange Peels: Read Our Full Usage Guide!
I have at least 45 good reasons for you not to throw those orange peels away. They're really helpful and healthy in so many ways!
15 Microwave Tips Everyone Should Be Told About
Microwaves can be used even more than you'd imagine. Here are 15 more ways in which you can use your microwave that you probably didn’t know about.
How to Stop Worrying and End Anxious Thoughts at Night
Are anxious thoughts hindering your sleep every night? Here’s what you can do.
16 Extraordinary Table Salt Uses That No One Knows About
Salt is one of nature's most vital things, but did you know how useful it really can be? Here are 16 benefits of using salt around the house.
12 Home Maintenance Mistakes I Wished I Knew Earlier
Care to find out if you’ve fallen prey to some of these home maintenance myths?
These Are The Financial Secrets of This Billionaire
When it comes to making money, you have to listen to men like Warren Buffet - they really know what they are talking about.
4 Stylish Haircuts that Take Years Off Your Face
Sometimes, all it takes to look years younger is a change in your hair style and color.
7 Tips to Ensure You Never Buy a Bad Watermelon Again!
Watermelons are delicious, but before you buy one heed these 7 traits that indicate that the watermelon that you’re about to buy is bad.
What 1939 Thought of Fashion Today!
hilarious short video from 1939 that dares to dream about the year of 2000 AD....
29 Psychological Tricks that Make You Spend More Money!
What are the psychological tactics used by salespeople, marketers, and retailers that make us buy more?
6 Ways to Make Your Hands Look and Feel Younger
Give your hands a little TLC with these helpful remedies.
Struggling to Wake Up Early? Here are 8 Habits to Avoid
Do you do any of these bad habits in the mornings?
7 Ways Lemons Can Make Your Life a Whole Lot Easier!
Here you'll discover seven surprising ways how you can use lemons and lemon juice to make your life cleaner and easier.
These 15 Charts Are Both Useful and Interesting!
The 15 charts cover topics like health, animals, and classical music, and they are full of useful information, perfect for a lifelong learner like you.
12 Fabulous Uses for Socks That Have Lost Their Mate
Here is a terrifically useful list of 12 handy ways that your odd sock or stocking can regain her purpose, get ‘out there’ and reinvent herself.
15 Surprising Uses of Potatoes Outside the Cooking Pot
Potatoes are a great staple of many food dishes around the world, but they also have many uses outside of the kitchen. These will surprise you!
How to Start a Garden on a Windowsill
No green thumb is needed for this simple gardening project.
So THIS Is How You Make the Perfect Poached Egg
Don't be put off making poached eggs thinking it's difficult. This video shows how easy it is!
Keep Your House Smelling Amazing with These DIY Tips
These are some of the best and cheapest things you can do to make any part of your home smell nice and welcoming.
Guide: How to Get Rid of 18 Bad Odors in the House
Familiarize yourself with the 18 items that can help eliminate, neutralize, prevent, and mask any unpleasant smells in every area of your home.
Stay Clear of These 9 RISKY Google Searches
You can search anything on Google, but it’s advisable not to do so for these risky things.
5 Life-Changing Tips for Investing In Your 50+ Years
Looking to secure your cash as retirement approaches? Check out these top five investment accounts for individuals over 50.
We All Have Aspirin - And Here Are 9 Things to Use It For
Aspirin is about as pedestrian a pill as you can think of - or so you might think! In reality it has loads of surprising uses. Here are 9 of the best.
Make Your Garden As Beautiful as Can be With Epsom Salts
Epsom salts are highly rich in nutrients, and this means that they're great for helping flowers and trees to grow beautifully and healthily. Read these 15 tips.
50 Culinary Tips That'll Make You a Kitchen Master!
50 great little culinary tips and tricks you can print and hang in the kitchen!
I've Used these Tips to Save Hundreds on My Groceries
Take a look at the following tips that I have used in recent months, to help me save hundreds of dollars on my groceries.
I Can't Believe I Never Knew About these Food Hacks
Your cooking experience is about to become a breeze with these useful tricks!
Try this Ancient Indian Method for Removing Body Hair
An ancient and natural method that both men and women have been using for centuries to get rid of unnecessary hair from their bodies.
10 Amazing Beauty Uses for Banana Peels
Everyone knows that bananas are great for your health, but not many people know that the peel can be beneficial too and should be added to your beauty regime.
Quick Tip: Clean the Gunk Out of Your Kitchen Cupboards!
A quick tutorial that teaches how to clean your kitchen cupboards without damaging them.
Follow These 3 Easy Steps to Ripen an Avocado in Minutes
This foolproof trick will make your rock hard avocado soft and creamy in mere minutes. Just follow these simple instructions...
16 Survival Gadgets for Any Emergency Situation
These cool gadgets can be extremely useful in any emergency situation.
Everything You Wanted to Know About Coffee...
Is coffee healthy? Is it addictive? Is there any way to reuse coffee grounds? Find the answer these question in this coffee themed collection
Avoid Spending Extra Cash on these Unnecessary Upgrades!
To make sure you don't have buyer's remorse after making a big electrical appliance purchase, avoid these upgrades!
Guide: How to Effectively Deal with a Dog Attack
These 15 tips will help protect you before, during and after a dog attack.
Lost a Key and Need to Pick a Lock? Do This!
Need to pick a lock? Here's how to do it.
Knowing These 12 Warning Signs Could Save Your Pet's Life!
If your pets exhibit any of these 12 symptoms, you should take them to the vet immediately!
I Never Imagined You Can Use Coca-Cola to Do These Things!
A bottle of Coca-Cola goes a loong way, it turns out! From tenderizing meat, to cleaning jewelry & repelling bugs, the magic drink can do it all!