MAG Insights

Announcements from the MAG & Featured Articles

MAG Vice President Liz Garner Quoted in Chargeback Relief: Does It Go Far Enough?

Visa, MasterCard and American Express have launched plans to help merchants speed their deployment, activation and certification of EMV-compliant point-of-sale terminals in an effort to reduce chargebacks.

"The card brands' announcements concerning liability shift relief are an admission that the system is broken and that the chargebacks merchants have been dealing with since October are unfair." 

And Visa and AmEx took it a step further, both saying they will prevent issuers from holding merchants liable for counterfeit fraud chargebacks on transactions of less than $25. They also say that issuers will be limited to 10 chargebacks per card, with issuers assuming the liability for fraudulent transactions after the 10-chargeback limit.

Read the full article: http://www.bankinfosecurity.com/blogs/chargeback-relief-does-go-far-enough