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jacquesm
on May 12, 2012
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IAmA a malware coder and botnet operator, AMA
You are entirely correct. The difference between online payments and any POS transaction can be summed up in three words, 'card not present'.
3DS attempts to create a 'cardholder present' situation, hence the shift of liability.
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3DS attempts to create a 'cardholder present' situation, hence the shift of liability.