please read the following comment i left in that website you mentioned and tell me who is liable. thanks. "this is exactly the same question i have. i was told in another forum about a sale paid with a fraudulent card and a sale paid with a valid card but being used fraudulently. there's obviously a difference there. as i see it, a fraudulent card is a counterfeit card, for example, a criminal who has the technology to reproduce the information on your magstripe card and makes a "copy" of it and makes it look real and use it here and there. in this particular case, yes, the party with the oldest card reader technology it's liable, i get that and seems fair to me. the other one, a valid card (either with a chip or not) being used fraudulently, for example, a dishonest person finds a card on the floor inside the store and goes to pay for his purchase right away to find out if he has any luck and the card goes through, a lot of places don't even ask for and ID, they just ask you to sign the receipt, some not even that if the transaction is lower than $50. if the card doesn't go through, this person will act surprised and ask the cashier to try another one (in this case, his own), or even worse, a lot of grocery stores have this fast lane where there's no cashiers and the customer have to scan everything.... you get my point, right?? so what happens here?, who's liable in this scenario?" Thanks (http://www.paymentsleader.com/will-retailers-be-ready-for-emv-by-oct-2015/#comment-2301566610)
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