More Chip-Card Headaches...

More Chip-Card Headaches, This Time for Merchants Costs of ‘chargebacks’ from counterfeit credit cards are starting to pile up at retailers that didn’t shift to chip cards

For millions of merchants that haven’t yet met the credit-card industry’s deadline for accepting more secure plastic, the bill is coming due.
As of last October, retailers who didn’t make the transition to chip cards are on the hook for counterfeit transactions that used to be covered by card-issuing banks. The costs of the fraud, known in the industry as chargebacks, are starting to stack up.

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