Principles of Information Systems (MindTap Course List)
Principles of Information Systems (MindTap Course List)
13th Edition
ISBN: 9781305971776
Author: Ralph Stair, George Reynolds
Publisher: Cengage Learning
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Chapter 3, Problem 10SAT
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A liability shift took place after October 1, 2015 where the merchants were allowed to accept the payments via a chip card’s magnetic stripe; however they have to take the responsibility of any fraudulent purchases.

Hence, the given statement is “True”.

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Using smart cards for authentication isn't necessary if magnetic stripe cards already work.
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Principles of Information Systems (MindTap Course List)

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