re: Purchases with credit card...Some places “swipe it”, others “use the chip”.

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what's the scoop on the supposed turmoil between CEO and Matt Canada?

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I’m out the game. I’m like an old mobster that was serviceable but the most recent activity nearly got him whacked, and now he wants out.

The chip is being ushered in to get the American people used to hearing and using the word "chip"...therefore making it easier to accept the mandatory NWO RFID chip in the future or face the guillotine.

Yes.

It costs money to upgrade to the chip reader.

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It costs money to upgrade to the chip reader.

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It does, but we're not talking about a large expense. $400 or less to purchase.

And for those that lease the machines, there should be no excuses.

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It does, but we're not talking about a large expense. $400 or less to purchase.

And for those that lease the machines, there should be no excuses.

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I switched dad to a new processor, they charge 1/2% of all purchases and the new chip reading machines were $300 each , financed them for 6 months same as cash. Had to buy 4. So $200 a month . That's nothing compared to one $2K charge being fraudulent and dad being out that money.

Some haven't switched to the chip. I use both+nfc.

I find the chip reader to be a pain. It needs a minute or two to load up and connect to the internet. The swipe is ready to go as soon as it's on.

Chip is way safer for the consumer. Swipe records your account number, chip.gets an approved transaction number.

Nfc is rare. I've had two people ask to pay with apple pay in two years.

Venmo is catching on too.

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The correct answer is that those companies that have switched to chip readers will not be responsible for fraud and the fees associated with it.

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Just who IS responsible? The CC company? The card holder with a consumer (non business) credit card?

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Jimmy John's is the worst.

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Depends on the kind of card you have

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If you don't have a machine that can read the chip (IE the user SWIPES the card) then in the case of that card being used fraudulently , YOU are responsible, if however you have a chip reader then your credit card processor is responsible.

Now big companies like Wal Mart or whatever, they have other deals with credit card companies so that doesn't apply to them, but the little guys don't and so are only covered by the law, which says that if you have a chip reader and a card is used fraudulently and the card holder disputes the charge, you aren't responsible for the charge, your processor is, but if you have a swipe machine, you are responsible.

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This is correct, or at least how it's been explained to me. I have a client that owns a credit card processing company and this is basically how he explained it.