USA scenario here: say I have a $2000 car repair bill and use my debit card.
Can’t be bothered to put in my pincode so I hit credit, payment goes through without pincode.
Why does the consumer have the option to pick here?
In: Other
If your debit card gets stolen then you lose your money.
If a credit card gets stolen then the store loses their merchandise.
You have a PIN because it is protecting you from theft. You are not at risk from theft from a credit card because you can just report it as stolen.
Both modes of transactions offer protection to you but in different ways. One stops the transaction from occurring, the other prevents you from being charged later.
You are being given the choice as to which protections you will be using for this transaction.
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