How to protect credit card at gas station pumps

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Messages 21 - 40 of total 42 in this topic << First  |  < Previous  |  Show All  |  Next >  |  Last >>
Dingus Milktoast

Trad climber
Minister of Moderation, Fatcrackistan
Oct 4, 2017 - 09:38pm PT
Tami you can be my White House Toastperson!

We'll start a new party, a 3rd party, a WILD party!

DMT
zBrown

Ice climber
Oct 4, 2017 - 09:52pm PT
If everybody was packin' when entering into a commercial transaction then there would be a lot more money going 'round to enable further gun purchases

crusher

climber
Santa Monica, CA
Oct 4, 2017 - 10:46pm PT
I use the charge cards for the particular gas station ( I.e. Chevron and 76 cards) - they don't have high limits and if frauded don't foul up my regular credit cards.
T Hocking

Trad climber
Redding, Ca
Oct 4, 2017 - 11:30pm PT
We'll start a new party, a 3rd party, a WILD party!

DMT IN 2020

DMT IN 2020
DMT IN 2020
Credit: T Hocking



Jon Beck

Trad climber
Oceanside
Oct 5, 2017 - 01:23am PT
You are never liable for fraudulent charges on a credit card, ever. So I fail to see what politicians and bullet trains have to do with this discussion. Debit cards do not have as much protection, although some banks do extend protection to them. I use a credit card that emails me every time I use my card, so I know what is going on real time.

For online transactions I use Paypal (tied to my credit card) when available because the seller does not get your card number.

10b4me

Mountain climber
Retired
Oct 5, 2017 - 06:53am PT
Pay cash money for everything.

I only pay cash for gasoline.
Dingus Milktoast

Trad climber
Minister of Moderation, Fatcrackistan
Oct 5, 2017 - 07:18am PT
So I fail to see what politicians and bullet trains have to do with this discussion.

Useless train-to-no-where idiot bullshit instead of mnadatory, national infrastructure, critical to commerce, instead of stroking one aging politicians massive ego.

Now how about that Beck. Wouldn't that be something, a government, for f*#ks sake that secures safe commerce. I think that is in the constitution somewhere innit? Dun see no goddamn bullet trains in there.

Commerce Clause coupled with the Necessary and Proper Clause. Read up on them and get back to me on that bullet train to no where.

DMT
Jon Beck

Trad climber
Oceanside
Oct 5, 2017 - 07:46am PT
Dingus, are you suggesting the bullet train is unconstitutional, I am confused. I did survive Con Law and other than tossing around some phrases, your comments are impossible to understand.

We all know you hate the bullet train, and like to raise it but it is irrelevant to this issue. The state's should not be the regulator of credit reporting and security, the Federal government does have the authority under the Commerce clause to mandate better security. As it is credit card companies make so much money off CC transactions that they absorb the losses. The market is working without regulation.
Dingus Milktoast

Trad climber
Minister of Moderation, Fatcrackistan
Oct 5, 2017 - 07:49am PT
The market is working eh?

Target breach.
Neiman Macrus.
etc etc etc etc etc
Equifax.
Anthem.

The list goes on and on.

Fuel companies not installing chip readers because they are too expensive.

Man that's some working!

Meanwhile its time the Fed stepped in and seized control of digital commerce standards away from the credit card companies. We don't allow airlines to regulate themselves anymore, why should we continue to allow these lenders to run amok?

We should not. And the market is definitely not working. Wake up.

DMT
zBrown

Ice climber
Oct 5, 2017 - 08:08am PT
You are never liable for fraudulent charges on a credit card, ever.

This raises the interesting question of what happens when charges are made on your credit card (by you) due to fraudulent misreprentation.

Don't forget that charges must be disputed timely.

When does the clock start tolling?

Do you have to "sue the bastards"? Probably so.

And what about all the clauses in those tiny little prints that accompany every statement which you may or not read or even receive that say you waive your right to sue an must accept (loaded in favor of the industry) arbitration; that mere continued utilization of the card implies your acceptance.

Is the consumer screwed in all this?

Why yes.
Dingus Milktoast

Trad climber
Minister of Moderation, Fatcrackistan
Oct 5, 2017 - 08:13am PT
More Winning over here Beck!

Research Results: Exploring the Financial Impact of Fraud in a Digital World
Evaluating all the financial impacts of fraud can be complex, but one overall trend emerges: fraud threats are on the rise despite increased spending by merchants.
“Exploring the Financial Impact of Fraud in a Digital World,” an annual survey from Javelin, commissioned by Vesta, breaks down many measures of how fraud affects merchants—particularly when card-not-present and digital goods transactions are involved. A few key findings from the 2017 report paint a quick picture of the challenges merchants face in mitigating fraud risks:
• Merchants are losing, on average, 8% of their annual revenue to fraud.
• Unauthorized transactions are up 33%—representing nearly half of merchants’ average fraud losses.
• Merchants are spending over 20% of their operating budgets on fighting fraud.

If you knew the truth you'd never use credit cards again.

DMT
i'm gumby dammit

Sport climber
da ow
Oct 5, 2017 - 08:18am PT
^^Got a link for that. Without context it means nothing
k-man

Gym climber
SCruz
Oct 5, 2017 - 08:22am PT
Merchants are spending over 20% of their operating budgets on fighting fraud.

Usually we don't think about the merchant getting dinged. There's the concept of 'card in hand.' If you buy groceries and use a CC, and the cashier can verify the card holder, then any fraud is pushed back to the CC company. However, if you purchase something where the merchant can't verify the card holder, such as an online txn, then the merchant must pay if it's fraud.
Jon Beck

Trad climber
Oceanside
Oct 5, 2017 - 08:48am PT
This thread started out as how to protect yourself at the gas pump. Now that we have extended it to merchants (since consumers are not at risk) we will look at merchant protections.

For face to face transactions the merchant can protect themselves:

For the brick-and-mortar merchant, this is a card present (CP) transaction, meaning the cardholder, John Smith, is physically present with the card at the point of purchase. When a consumer makes an in-person transaction with a physical card, the merchant has the ability to not only inspect the card but to ask for identification (such as a driver’s licence) and obtain a signature from the consumer. In addition, merchants require a secure form of payment such as paying with a chip-enabled card. Chip-enabled cards generate unique transaction codes for each purchase, making the payment information much more secure. If the merchant follows proper procedure such as requiring a chip-enabled card for purchase and getting a signature, the merchant does not hold the liability on the transaction. Liability rests with the bank that issued the cardholder’s card, and if the purchase is later deemed to be fraudulent, the merchant is not responsible for refunding the customer. (However, if a merchant does not have a chip-enabled card reader, and accepts the transaction, they are held liable for that purchase, as they did not undertake the proper updated security procedures.)

For online orders (Card Not Present, CNP) it is much riskier for merchants. If a merchant blindly accepts CC orders without some verification then there is great risk of chargebacks. A common way to reduce risk is to only ship to the credit card address. I sell on Ebay and use Paypal, total protection if I can prove I shipped to the address provided through Paypal, I have never lost a dime. You do not have to sell through Ebay to use the Paypal system.

There is definitely room for improvement in digital transactions. With the proliferation of smart phones it would be easy to have a system that uses biometrics or passwords through the cell phone to confirm transactions real time. No additional hardware required at the merchant end, just an internet connection.

Card companies eat a lot of fraud
Ed Hartouni

Trad climber
Livermore, CA
Oct 5, 2017 - 09:00am PT
Useless train-to-no-where idiot bullshit instead of mnadatory, national infrastructure, critical to commerce, instead of stroking one aging politicians massive ego.



I guess it's easy to see the future...

"A vast program thrown together, imperfectly conceived and grossly mismanaged, and in due course becoming a veritable playground for extravagance, waste and corruption..."

WSJ 1958
Dingus Milktoast

Trad climber
Minister of Moderation, Fatcrackistan
Oct 5, 2017 - 11:18am PT
Ed that bridge to no where in the hinterlands north east of Fresno really cemented my opinion on that gerrymandered bullet train. Idiotic. Borrowing billions to pay for a train that will never show a return on investment, even if carbon credits are used. There is no ROI on idiocy and an easily duped public.

For trains to be useful they have to be useful to the people that ride them in mass numbers, not for the re-election purposes of rural bring-home-the-bacon-to-the-district yahoo politicians.

DMT
Dingus Milktoast

Trad climber
Minister of Moderation, Fatcrackistan
Oct 5, 2017 - 11:19am PT
Hey gumby damnit here's the only link I got with the newsletter

http://info.trustvesta.com/research2017?

Have at it :)

DMT
Jon Beck

Trad climber
Oceanside
Oct 5, 2017 - 11:36am PT
Idiotic. Borrowing billions to pay for a train that will never show a return on investment

There are no transit systems in the states that show a return on investment. The NYC subway, generally packed to the gills, only returns 50 cents on every operational dollar, but it supports an economy worth billions.

Air and car travel have massive subsidies that are hidden. Rail subsidies are more visible.

Here is a chart of subsidies for Boston transit.

Boston Transit Subsidies
Boston Transit Subsidies
Credit: Jon Beck
Splater

climber
Grey Matter
Oct 5, 2017 - 11:54am PT
It's not that hard to see that a strong case can be made for urban transit subsidies, used mostly by commuters, and estimates can be made of how much impact is made on time lost due to traffic, lower pollution, land used, smart growth, etc.

No one can make a good case for the bullet train to nowhere.
Dingus Milktoast

Trad climber
Minister of Moderation, Fatcrackistan
Oct 5, 2017 - 01:28pm PT
There are no transit systems in the states that show a return on investment. The NYC subway, generally packed to the gills, only returns 50 cents on every operational dollar, but it supports an economy worth billions.

That's a return on investment, duh.

The California bullet train will have no such effect. It won't even make a dent in the daily Bay Area to LA air travel and certainly will not lead to less cars on the road. No return on investment, much less billions in economy.

DMT

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