Latest in Gear

Image credit:

Walmart takes Visa to court over debit card payments

It wants to require customers to verify purchases with PINs rather than signatures.
Share
Tweet
Share

Sponsored Links

Walmart isn't happy that Visa still allows customers to sign for purchases made with their chip-equipped debit cards. The retail giant has filed a lawsuit against Visa in New York in an effort to compel the credit card brand to require PIN verification when paying in its stores. Walmart argues that PINs are a lot more secure than signatures and can help prevent fraud. It used to only allow debit card payments verified by PINs when it first started accepting chip cards, but Visa forced the company to allow signature verifications.

According to The Wall Street Journal, debit cards are the most common form of payment at Walmart. Considering a lot of big retail stores fall prey to card breaches, making transactions more secure would benefit a lot of buyers. Company spokesperson Randy Hargrove said in a statement: "Walmart believes Visa's position creates unacceptable risk to customers and its actions and rules are inconsistent with federal law." The company does pay five cents more for every signature transaction, though, so there's definitely something in it for the retailer, as well.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Peter Parker has been recast in ‘Marvel’s Spider-Man: Remastered’

Peter Parker has been recast in ‘Marvel’s Spider-Man: Remastered’

View
Google's 'Hold for Me' Assistant feature appears first on new Pixel phones

Google's 'Hold for Me' Assistant feature appears first on new Pixel phones

View
The Aura Strap adds new tricks to your Apple Watch

The Aura Strap adds new tricks to your Apple Watch

View
Twitter bans deepfakes that are 'likely to cause harm'

Twitter bans deepfakes that are 'likely to cause harm'

View
Here's everything Google announced at its Pixel 5 event

Here's everything Google announced at its Pixel 5 event

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr