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by tyingq
3324 days ago
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It's not really that simple either. For the US, there are different paths for liability limits, reporting periods, etc, for the different combinations of credit vs debit and card-present vs card-not-present and Visa vs Mastercard. The rules are a mix of various consumer laws like "Truth in Lending" as well as Visa and MasterCard policy. There are areas where Visa and MC differ in policy. Your note about "onus on proof lies with the cardholder" is less true for Visa, for example. The best resource I've seen is this one: https://www.minneapolisfed.org/~/media/files/about/what-we-d... See pages 6 through 18. |
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