Back in the Spring of 2017, MasterCard issued a new statement regarding chargebacks. If a dispute comes up on a keyed in card in a face to face transaction, MasterCards would no longer accept a signed receipt as a remedy for the pending chargeback.
MasterCard also stated that merchants would not be required to accept a MasterCard if the magnetic stripe of a magnetic stripe only card or both the chip and the magnetic stripe cannot be read.
Visa has come up with the same program this year.
Why was this done? Simply to help keep down fraud. So, next time a customer provides a card that will not swipe or read the chip, ask for another card. Do not just key in the card information!
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