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Banks don't pay the cost of point of sale fraud -- retailers do.

I imagine if banks were required to shoulder the cost of point-of-sale fraud, suddenly they'd be very interested in issuing PINs.




Only if the retailer has failed to upgrade to reading chips. E-commerce merchants have to absorb 100% of fraud which is why many are so picky about addresses exactly matching and sometimes require ID scans or phone verification for new customers or very large orders.




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