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According to an article in BankInfo Security, Visa and Mastercard have given fuel pump terminal vendors an additional 3 years to add support for EMV.
Visa and MasterCard announced this week that they are pushing back their liability shift dates for counterfeit card fraud that results at non-EMV chip-compliant U.S. pay-at-the-pump gas terminals to October 2020 from October 2017.
That news is an early Christmas gift for convenience-store operators and the petrol industry, even though if it leaves issuers on the hook three years longer for counterfeit fraud that might result from a hack or skimming attack at self-serve gas pumps.
But I wonder how much fuss issuers will make about the extension. Counterfeit card fraud at gas pumps pales relative to retail point-of-sale and ecommerce fraud. And despite what we heard five years ago about pay-at-the-pump skimming reaching nearly "epidemic" proportions, we hear much less about it today. That's not to say it's gone away, by any means; but it no longer appears to be a looming epidemic
Visa and MasterCard made the right decision to give gas pumps a break on EMV. The question now is, will the three year extension be enough?
(Score: 0) by Anonymous Coward on Wednesday December 14 2016, @09:00PM
the brits burden of proof was on the cardholder for stolen cards
Americans are too lazy for this level of responsibility. If they are liable for this shit, and then forget to report it (or worse: don't know it's been stolen - I'm looking at you, there, Target), then they themselves are liable. Like fuck are they going to be liable, they'll just stop using the cards - and we can't have that, now can we... people not using credit cards and not getting themselves into debt anymore. No sir-ee... can't have that...
(Score: 0) by Anonymous Coward on Wednesday December 14 2016, @10:23PM
So true.