Aschettino Quoted on EMV-Chip Card Security Issues

05 July 2016 ISO & Agent News

ISO & Agent

Partner Stephen Aschettino was quoted in an ISO & Agent article “Merchants in Legal Hot Water After EMV Shift,” on July 5, 2016. The article discussed how some merchants are facing consumer lawsuits stemming from the introduction of EMV-chip card security at the point of sale. For example, a Wendy’s customer filed a class action against the restaurant alleging that it failed to protect customers’ credit card information, as well as other personally identifiable information. “I think they’re just trying to show that Wendy’s failure to use the EMV chip is some form of negligence. If my analysis is correct, I think that’s very different than the liability shift issue that we in the industry are very worried about.” He continued to explain a lawsuit filed by B&R Supermarket against most of the major card networks and issuers claiming thousands of dollars in losses because of the EMV shift. “Depending on the magnitude of the chargebacks and resources of the merchants, some merchants may be willing to challenge those rules. I do foresee there will be more litigation going forward on these issues.”

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