cryptohunter
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In 2015, the EMV liability shift changed things for merchants and electronic payments in the U.S. Before, if there was fraud, the card issuer was on the hook. But after the shift, if a merchant didn't use EMV chip card tech, they could be responsible for some types of fraud.
This switch aimed to make payments more secure by replacing old magnetic stripe cards with safer EMV chips. But it also meant more costs for merchants who had to update their payment systems to handle chip cards. Merchants who didn't follow the rules could be responsible for losses from fake card transactions.
The EMV shift pushed a lot of U.S. merchants to use chip card tech, making payments more secure overall. Even though it was a bit tough for merchants at first, in the long run, it made the electronic payment system in the country safer and stronger.
This switch aimed to make payments more secure by replacing old magnetic stripe cards with safer EMV chips. But it also meant more costs for merchants who had to update their payment systems to handle chip cards. Merchants who didn't follow the rules could be responsible for losses from fake card transactions.
The EMV shift pushed a lot of U.S. merchants to use chip card tech, making payments more secure overall. Even though it was a bit tough for merchants at first, in the long run, it made the electronic payment system in the country safer and stronger.
