FlyerTalk Forums - View Single Post - PIN Numbers now required with credit cards in Europe?
Old Mar 28, 2008 | 7:05 pm
  #69  
KVS
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Originally Posted by patrick211
I am sure, that the PIN code is written on the magnetic stripe.
That is, most definitely, not the case.

PIN-based transactions are virtually impossible to dispute, and the cardholder is usually liable for most PIN-based fraudulent transactions. With signature-based transactions, the card issuer is usually liable.

Despite the bank-initiated propaganda ("it's for your protection") campaigns, with "Chip & PIN", the cardholder gains nothing, other than increased liability for unauthorized transactions.
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