Is This Failed EMV Transaction Legit or No?

  Image Source: Google Images

Image Source: Google Images

For financial institutions (FIs), fallback transactions can be double-edged swords. Allowing fallback transactions means increasing the risk of fraud, while blocking them means legitimate transactions cannot go through.

Fallback transactions occur when consumers insert EMV chip cards at chip-enabled terminals but cannot complete the transactions as chip transactions. Instead, the transactions go through as magnetic stripe swipes

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