Would you have an actual token like they do for bank transactions or would this a be security authorization from your credit card/bank?

Either way I fully support enhanced measures as long as they are secure. A few weeks ago I paid for something online from Europe. I got an email & text alert about the charge. I had to respond a within a period of time or they would decline the charge.

cjsag94 said:

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I've dealt with AmEx... Although not on a chip fraud case. I'd be surprised if they were any different in this matter. Right now the industry is taking the stance that if a chip was used, you were there. That's all I was saying.

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Like anything else it all depends on what value they put on you as a customer.

We do an enormous amount of charges through AMEX every month and have for about a decade now - I've never even spoken to agent when it comes to fraud/chargebacks -- it's a few clicks and the money is back in my account, a few days later the case is closed.

As someone said previously, the $$$ amount in most of these cases falls under the "acceptable losses" for these card companies that are raking in billions. They aren't going to spend more than a minute or two "investigating" the $600 home depot charge.

Update:

I was just contacted by a detective investigating the fraud charge. We weren't the only people hit with this charge moments before we paid at a pediatric after hours facility. Several people had their cards scanned by a mobile merchant system and charges through a fraudulent merchant ID. They're honing in on the person they believe was responsible. Said several banks contacted them regarding that specific facility.

This is why I use Apple Pay every chance I get. To my knowledge that hasn't been scammed.

Harry Stone said:

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I had a problem with CC fraud this year as well. Someone had been using my card to buy from a company called Bombfell, which is some type of men's clothing subscription company out of NY. I had to dispute this as they racked up about $1500 in charges in a matter of days. I contacted the clothing company, pissed off, and they gave me all the information of the criminal, including shipping address, email address, etc. They were really good about it. So I called Chase to offer them all the details and they didn't want any of the information and that they would handle this through their fraud department. They reversed the charges, but I had all the information to give to them on a silver platter and they wouldn't take it. It's as if they have a 'fraud budget' and just accept the losses and move on and probably figure it's more expensive to go through a legal process than just reimbursing a customer and moving on.

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One thing to note is that some of these scammers scam other people to be recipients. They shotgun out job offers for "quality control" jobs where people are shipped things to inspect and then send to their final destination. Of course those people figure it out when they're never paid, but they've already unwittingly sent a bunch of fraudulently purchased goods and given out their personal info on IRS forms for a fictional job. So just because it is shipped to an address doesn't mean that's where the scammer is.

LOYAL AG said:

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This is why I use Apple Pay every chance I get. To my knowledge that hasn't been scammed.

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It's a lot more difficult because it is tokenized. Your personal data and card information are never used in the transaction, but there are inevitable links between that data and the tokens used. However, those links are less accessible than the magnetic stripe or chip on the card.

LOYAL AG said:

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This is why I use Apple Pay every chance I get. To my knowledge that hasn't been scammed.

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This is why VISA is pushing for tokenization across the board. You can no longer steal the entire method of payment.

Interesting to hear the push back by Chase. I assume this is the local bank and not their cc fraud department?

When I've had this happen, they immediately remove the charges no questions asked. Hell, I had them proactively take a fraudulent charge off my card and tell me about it after the fact.