Walmart Files Lawsuit Against VISA For Requiring Customer Signatures

Wal-Mart isn't known for being a champion of the people. While they do offer low prices, they also don't pay competitive wages for their workers. However, yesterday the company announced that they would be suing Visa, due to perceived risks to customers who use debit cards issued by the company.

The lawsuit claims that Visa will not allow Wal-Mart to use the popular "chip-and-PIN" protocol on their registers. Instead, Visa requires that customers use a signature with the pads, which Wal-Mart claims puts customers at risk. The company is seeking a trial by jury in the state of New York, to settle the matter.

In a statement yesterday, Wal-Mart said "VISA has acknowledged in many other countries that Chip and PIN offer greater security. VISA nevertheless has demanded that we allow fraud-prone signature verification for debit transactions in our U.S. stores because VISA stands to make more money processing those transactions."

As a customer, I greatly prefer being able to enter my PIN, as opposed to adding a signature to my transaction. For years I would get more and more intricate with my scribbles, at times even drawing little pictures. Not once did it cause any issues with my card being processed. I definitely feel more comfortable when a retailer asks for my PIN, instead.

VIA: CNBC