BURLINGTON, NC -- It's your money. It''s your debit card. You should be able to use it how you choose whether with a pin or a signature.
A few months ago, we told you about a local woman who said she didn't have a choice. She told 2WTK she went to a Burlington Walmart and was required to key in her PIN for a debit transaction. She wanted to use her signature and run her debit card as credit.
2WTK asked Walmart, her bank, even visa, why this happened. Walmart said it was the bank's decision, the bank says it was Walmart's decision, and Visa didn't comment on this specific incident.
Well, Walmart is now suing Visa over the issue. USA TODAY had details of the lawsuit. Walmart claims Visa requires the retailer to accept signature-based transactions for chip debit cards. But Walmart only wants to offer the PIN. The company says this is to protect you.
Walmart claims the signatures are less secure than PIN-based payments. But to be clear, this is also a money issue for Walmart. Signatures go through Visa's network. Walmart pays Visa a fee every time a signature is run and it's more expensive than the PIN number. Visa declined to comment to USA TODAY.
Right now Walmart automatically prompts customers to enter a PIN when they use a chip debit card. You're supposed to be able to override that and enter a signature instead. Walmart wants to stop the overriding and signature option altogether.
2WTK will keep you updated on how this plays out in court.