Which credit card security technology is hottest now?
Well, there is now a major commitment from major card payment players toward chip-based credit cards. This move is significant because we now have the issue of shifting liabilities. Explain what you mean by shifting liabilities. If an issuer has a chip-enabled card, and an acquirer does not have a chip-enabled terminal, then any charge-back liability will shift to the acquirer. Likewise, if the acquirer has a chip-enabled terminal, and an issuer has a non-chip card, then the liability will remain with the issuer. So (the aim) is to encourage the industry to embrace chip-based credit card platforms. Or force the acquirer to get chip-enabled terminals? Well, that’s the choice that they have to make, but I would. But it is also a big investment for the issuer, so it is a collective effort. What is the impact of all this on the consumer? For the consumers, chip-enabled cards mean more security, because there’s far more (security measures) that can be delivered with chip-enabled cards. And
