What are the fallback procedures if the POS terminal fails to read the chip?
If the chip fails, the magnetic stripe and signature can usually be used instead. Or, in chip and PIN countries, if the cardholder forgets their PIN, they may be allowed to use a signature. However, these options may be discontinued once migration to chip is sufficiently advanced within a particular country. This is one more reason why it is important to encourage customers to use chip technology now.
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