User talk:2601:196:180:DC0:6C71:88E0:A75C:881

Liability shift

Liability shift was a term coined by Payment Card Industry Data Security Standard (PCI DSS), and implemented on October 2015

PCI DSS isn’t law. Instead, it’s a blueprint to help protect consumers and banks operating on the web. Companies that operate Credit Cards are exposed to multiple risks, mainly because when accepting, transmitting, or storing any credit card information, you run the risk of a data breach. Merchants who aren’t PCI DSS compliant face full liability. When merchant's operations are PCI Compliant, the burden of liability is clearly expressed between the merchant, the processor, and the bank. Per PCI DSS new standards, new requirements for merchants to implement EMV capabilities (chip and PIN) were added and to push adoption, the shift in liability for counterfeit transactions would shift to the party that has not implemented EMV.

I can't find the old PCI 3 standards, but by my recollection, that was the gist of it. El geto (talk) 15:47, 10 October 2023 (UTC)[reply]

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