Merchants store your Pin mumber, they are being stolen....You can be liable for the full loss.!!!
What a mess...Check your bank accounts TODAY!
Credit cards give us some security in a theft... But if you are not dilligent you can be liable on your debit account.
The merchants store our Pin numbers...Crimanals are having a Gold Rush type Klondike!!!!
Posted by bond006 on :
Thats is sure nice just another reason to go through life checking everything two and three times. Which turns a 30 secound purchase into a 1 hr ordeal. And then everybody wonders how you spend your damn time all day.
Posted by Ramius on :
Merchants store your pin number? Is there any documentation on this?
Posted by Dustoff101 on :
Yes! Visa is giving the merchants fines right now!
My Banker told me to hit the credit button on the credit/debit machine..Even when using the debit card..Then sign for it, instead of putting in your pin...
Banks are PO'D that this has happened and I was told the memo is in the banks right now, concerning the problem...
Posted by BuyTex on :
happened to me a coupla years ago--sometimes crooks take jobs in restaurants etc in order to swipe your number.
I almost always choose credit over debit
Posted by Dustoff101 on :
Google settles for $90,000,000.00 in Click Fraud suit....Tip of the iceberg?
Posted by Dustoff101 on :
So far 200,000 pins stolen from merchant software.....'Don't know if that is from one central theft...
How much is being reported is another story...The Banks do not like this kind of info available to the general public..
Visa is on the ground floor now, trying to get to the bottom of it..Source: My Banker.
Google has the Click fraud brewing, and those in the know are saying the problem got by there security systems and is probably a huge problem..
Source: CNBC News.
Posted by AgentGPF on :
This is bad news for merchants because they I do believe not receive as much on the transaction when its billed as a credit card. This is why they ask you credit or debit so much, they want you to use debit.
Mastercard and Visa were in court around a year ago with Wallmart and I think one other large player, Visa settled quickly out of court but Mastercard kept pushing their rates. Almost immediately after the settlement my bank switched to Visa debit cards.