Credit and debit card fraud is a perennial issue among retailers and card issuers. Many retailers, in fact, are willing to accept a certain level of fraud stemming from their acceptance of credit cards and signature-based, or offline, debit cards.
But the current level of offline debit and credit card fraud--up to 7 cents per every $100 spent--appears unacceptable among tax-supported entities such as mass-transportation districts, which increasingly are enabling riders to purchase prepaid transit cards with bank-issued offline debit and credit cards.
The Washington Metropolitan Area Transit Authority, for example, deploys 225 ticket-dispensing terminals that …
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