[–] [deleted] 0 points 1 point (+1|-0) ago  (edited ago)

[Deleted]

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[–] TerriChris [S] ago 

The consumer will pay double. The credit card companies are not lowering their fees and interest rates, which, by the way, are out of control compared to the market rates.

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[–] cpoakes 0 points 1 point (+1|-0) ago 

Glaring inconsistency: The new cards are "dual technology" they come with both the chip AND the mag stripe... because all retailers still don't have chip readers. If the mag stripe remains familiar/faster/easier and someone else (the retailer) is responsible for fraud, which method will consumers use? Duh. Just cost shifting by the banks to retailers until retailers are willing to refuse mag stripe transactions.