MasterCard Extends Zero-Liability on Cards to ATM, PIN-Based Transactions
Following several data breaches at U.S. companies, MasterCard Inc, the second-largest debit and credit card company in the world, is extending its zero-liability policy for cardholders in the United States to include all PIN-based and ATM transactions.
According to Reuters, zero-liability protection currently ensures that cardholders will not be held responsible for unauthorized card transactions that require a customer’s signature, but it does not apply for unauthorized transactions using a customer’s PIN. The new policy is set to take effect in October.