EMV Liability: Who Pays for a Disputed Card Sale
Who pays when a card turns out to be fraudulent? Whichever party used the less secure technology. Since the EMV liability shift, if a chip card is swiped on a magnetic stripe reader and the transaction is later disputed as counterfeit, the cost falls on the merchant rather than the issuing bank. Dip or tap the same card and the liability generally sits with the issuer. This is the practical reason to retire old swipe-only hardware, and it is a bigger number than the c