In the US, it's very much a chicken and egg type of situation. We have massive Credit Card infrastructure in place and for years it has been a matter of merchants saying "no one has chip and pin cards, why do we need the readers?" while banks said "no merchants have chip and pin readers, why should we issue more expensive chip and pin cards?" Of course, this will all be changing as, by my understanding, both Visa and MasterCard are changing their terms of use such that merchants will be liable for all fraudulent purchases if they are not set up to accept chip and pin after this year, IIRC. I've seen more chip and pin readers in my area in the last 3 months than I have in the rest of my life. Perhaps now that the readers are rolling out, banks will finally suck it up and start issuing chip and pin cards....
On Wed, Feb 4, 2015 at 1:43 PM, Allan Irving <[email protected]> wrote: > The U.S. payment industry is significantly behind. If the transaction was > done online, I can assure you they did not know your PIN but your security > code which could be due to a leaked database of details. > > Chip + PIN is one of the safest ways to use a card. It requires something > you have and something you know. A card used online does not require > physical ownership of the card. > > From what I know, America still hasn't really utilised many Chip + Pin > machines and still just swipe a card. The attack vectors are huge and until > the big banks are willing to issue chip and pin cards and or supply > merchants with machines collectively, card fraud will remain high. > > The problem with the U.S. is that fraudelent charges could be claimed by > someone when they have in fact made tht charge. In the UK, chip and pin > without being a victim of crime usually points to BS. There are extreme > cases, but that's the 1% not the 99%. > > Online card transactions have always been disputed wrongly by customers > but there's often a card issuer can do but refund due to the fact they are > jointly liable by law. > > Chip and pin makes it easier for vendors to trust customers and protects > them ultimately. Their POS supplier usually will offer insurabce services > with the rental and commision fees. Much like PayPal. > > Why the U.S. has not adopted this globally, I don't know. In fact, NONE of > my cards will work offline / bring swiped. They need to talk to the banks > systems to work / verify the transaction. This is true for most people in > the UK. That's why your train ticket purchase was declined most likely. > _______________________________________________ > Discuss mailing list > [email protected] > https://lists.lopsa.org/cgi-bin/mailman/listinfo/discuss > This list provided by the League of Professional System Administrators > http://lopsa.org/ > -- Ryan DeShone [email protected]
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