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card issuing banks...help please!


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Posted by Greg on August 10, 2001 at 13:08:27:

I'm new to this field with some general questions. It's my understanding if a swipe is made with a card and the signature reasonably reflects that of the cardholder a merchant will not be held responsible for an unauthorized use of a card...making the card issuing bank essentially the institution to pay off the fraudulant charge. I'm wondering 1)is this true? 2)what's the average $ amount these banks lose in a yr (very roughly, I realize card volume differs in size from bank to bank). I will name my firstborn after anyone who can help me out! Thanks again, Greg




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