Do You Have a Smart Card Yet?
Have you gotten a new debit/credit card? Here's how it could be saving you a lot of trouble.
A few weeks ago, I received my new bank cards. I thought it was just time for new cards, but it all made sense to me this weekend.
I was in McCall over the weekend having lunch at My Father's Place (it was delicious by the way), when it came time to pay, I went to swipe my debit card when the cashier stopped me and said there's a new way to "swipe" the card. By Oct. 1st you'll be seeing the difference at most retailers.
The new cards come equipped with a chip on the front of the card that will eliminate some card frauds. The new terminals allow you to insert the card (instead of swiping); before it authorizes a payment, it will check if the card has been duplicated. If it has, it will decline the payment.
If you're a business owner, and don't have a new "smart terminal" by Oct. 1st. You can become liable for fraudulent expenses instead of the banks.
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