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by kapkapkap 4650 days ago
> I can (and will) contest them and get a new card, so really the bank is taking on risk.

No, they company you are purchasing from is taking the risk (hence why they are asking for the additional info). The company that you purchase from is almost always the one who covers the loss in cases of a chargeback caused by CC fraud, not the bank/CC company.
1 comments
dalore 4650 days ago
I'm confused. If I give my card to company A, but somehow along the line someone gets the details and uses it buy something at company B. And there was no way to link it to company A. How is company A having any risk whatsover?

I believe it's company B, the one who accepted a fraudulent order the one at risk. The company I have no relationship whatsover. My only risk is to check if I have charges I didn't make.

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vidarh 4650 days ago
company A to you is company B to someone else. The point is that the risk is not to the bank but to merchants.

For any given transaction the company does not know if they're "company A" and you're a genuine customer, or if they're "company B" being defrauded out of product with stolen details, so all merchants are taking on risk.

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