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MasterCard Extends Zero Liability to PIN Transactions

Rival Visa doesn't offer PIN and ATM zero liability, yet


A leading debit and credit card issuer is moving to offer U.S. card users more transaction security.

MasterCard MCMasterCard (MA) says that its U.S. card holders will not be liable for unauthorized ATM and PIN-based transactions. The new policy expands zero liability protection against card fraud. Under its old policy, MasterCard did not provide zero liability to PIN-based transactions, Fox Business notes.

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Currently, Visa (V) does not offer zero liability protection to PIN-based and ATM transactions.

On the news MA stock was flat in Wednesday morning trading, while Visa stock sank modestly. On Tuesday, MasterCard stock closed at $77.03 per share.

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