Originally Posted by
travelinmanS
I believe the PIN places the liability for the fraudulent charge on the consumer in Europe. I am quite happy with the USA system where any fraud is not my problem but the card issuers problem. I really don't care about fraud because I never have to pay for it. And spare me the bit about higher merchant fees....
It actually places it on the merchant, that's why they don't want to accept swipe cards, as they don't want to risk it.