Credit Card Fraud

[mjwalsh]

I was going to blame the French last post and would have been half right. (Quebec - French language.... bad joke? LOL )

Eric - cwguy,

I was face to face with Mr. Deficit Maker (who can be seen in our below deficit reduction video) ... this morning. Basically, I confronted him about that incident that Bigleo linked the video to. It was a very heated exchange. He started shouting at me that I unfairly was picking on the Russians & their style of favoritism. I screamed back at him even louder that my intent was not to single out a particular nationality but the overall character of a person &/or group. I also said to him "Just the facts ma-am" & I tried to explain to him that sometimes the truth hurts a bit.

Mike Walsh http://kingkoin.com/USA_Deficit_Reduction.html

 

[mjwalsh]

With the recent breach of security at Target and the loss of Credit card/Debit card information of 40 Million customers does anyone see any changes coming to how credit cards will be handled in the future?

Will the mag stripe card be replaced with a Smart card? Will it require any equipment changes?

Just something to think about

Kevin & others,

This in my opinion has been one of the "better heads up" posts on this forum ever ... especially for any owner who has or may get more card swipes "than most" smaller transaction operators. Time will tell ... but we should consider the following growing positions made by processing entities in general: Note the "LIABILITY SHIFT" in another "heads up" document. So the reality of costly upgrades should not be taken too lightly. Just the facts .... no hype ... is this the type of cost absorption that most of us can handle? By "liability shift" that appears to be coming more dominant soon ... what all does that liability include? Does it include more than just the transaction itself but also potentially very costly ID theft consequences?

https://www.scbtonline.com/products.../emvchiptechnology/emvchiptechnologyfaqs.aspx

There are other articles reinforcing the one above that are also relevant to our "decision making" as to how deep we want to get into "cashless". Like Bigleo said & Robert Roman implied ... maybe it really is not that costly of an ongoing transition & it will absolve .... especially smaller transaction merchants ... from broader liability???

Mike Walsh http://kingkoin.com/USA_Deficit_Reduction.html