Update – in November 2017, Walmart and Visa announced that they are settling the lawsuits. Details of the settlement have not been made public, though Visa made a public announcement that they’re pleased with the settlement decision. We’re leaving the rest of this article for historical purposes. Setting the Stage: PIN vs. Signature Chip Cards […]
A battle is brewing. Citing security issues, giant retailer Walmart has brought a lawsuit against Visa. At the end of June, 2016, Visa filed a countersuit. The news has spread like wildfire, and misconceptions are also spreading fast. Let’s take a look at what the lawsuit is actually about and address some of the incorrect info going around.