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MAG Vice President, Liz Garner, Quoted in "Hurry up and wait: Chip and PIN payment technology in the US"

June 3, 2016 

U.S. retailers are increasingly unhappy with how the adoption of so-called chip and PIN credit cards is playing out in the market, and it’s not simply because the uptake has been slow. It’s because retailers feel the card companies themselves, worried about competition and profits, haven’t actually been encouraging the use of PINs, which allows for the most secure processing of card payments.

Last month Walmart, the largest U.S. big-box chain, sued Visa for allowing customers to simply sign their names rather than enter PIN numbers when using a microchip-enabled debit card.

In its lawsuit, Walmart says that by not requiring those using chip-enabled debit cards to enter a PIN, Visa, the largest issuer of credit cards in the United States, is robbing customers of added security. Walmart also accuses Visa of taking financial advantage of merchants, as transactions processed via signature often have a higher fee than those processed via PIN code, according to media reports.

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